Colonial Trust Advisors Boosts Stock Position in The Charles Schwab Corporation $SCHW

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Colonial Trust Advisors grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,539 shares of the financial services provider's stock after buying an additional 9,277 shares during the period. Colonial Trust Advisors' holdings in Charles Schwab were worth $5,835,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Vanguard Group Inc. increased its position in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock worth $11,616,380,000 after purchasing an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP grew its position in Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider's stock valued at $1,212,461,000 after acquiring an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA grew its position in Charles Schwab by 229.3% during the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider's stock valued at $1,096,083,000 after acquiring an additional 9,749,728 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after purchasing an additional 8,584,173 shares during the period. Finally, Nuveen LLC purchased a new position in Charles Schwab during the 1st quarter valued at $440,699,000. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SCHW has been the subject of several analyst reports. Cowen restated a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. The Goldman Sachs Group raised Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Friday, April 25th. Truist Financial raised their target price on Charles Schwab from $107.00 to $112.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. JMP Securities lifted their price objective on Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a research report on Monday, July 21st. Finally, Piper Sandler lifted their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and an average price target of $99.60.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares in the company, valued at $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,340 shares of company stock valued at $24,250,303 in the last ninety days. Company insiders own 6.30% of the company's stock.

Charles Schwab Trading Down 0.2%

SCHW traded down $0.1690 during trading hours on Friday, reaching $95.6510. 12,859,422 shares of the company's stock traded hands, compared to its average volume of 10,012,337. The firm has a 50-day moving average price of $93.68 and a 200 day moving average price of $85.25. The Charles Schwab Corporation has a 52-week low of $61.16 and a 52-week high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $173.63 billion, a PE ratio of 25.71, a PEG ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 EPS. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 8th. Charles Schwab's dividend payout ratio is presently 29.03%.

Charles Schwab announced that its board has authorized a share repurchase program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.