Concurrent Investment Advisors LLC Increases Holdings in The Charles Schwab Corporation $SCHW

Concurrent Investment Advisors LLC boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 18.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,168 shares of the financial services provider's stock after buying an additional 2,780 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Charles Schwab were worth $1,658,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Johnson Investment Counsel Inc. raised its holdings in shares of Charles Schwab by 13.7% during the second quarter. Johnson Investment Counsel Inc. now owns 38,675 shares of the financial services provider's stock worth $3,529,000 after purchasing an additional 4,659 shares during the last quarter. Apollon Wealth Management LLC raised its stake in shares of Charles Schwab by 2.1% during the 2nd quarter. Apollon Wealth Management LLC now owns 38,504 shares of the financial services provider's stock valued at $3,513,000 after buying an additional 785 shares during the last quarter. Hemington Wealth Management raised its stake in shares of Charles Schwab by 17.9% during the 2nd quarter. Hemington Wealth Management now owns 1,729 shares of the financial services provider's stock valued at $157,000 after buying an additional 263 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in Charles Schwab by 0.5% during the second quarter. Fifth Third Wealth Advisors LLC now owns 26,024 shares of the financial services provider's stock valued at $2,374,000 after acquiring an additional 132 shares in the last quarter. Finally, Financial Connections Group Inc. raised its position in Charles Schwab by 369.0% during the second quarter. Financial Connections Group Inc. now owns 1,271 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 1,000 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SCHW shares. Zacks Research cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. Raymond James Financial reaffirmed an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Citigroup lifted their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 21st. William Blair cut shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Charles Schwab from $114.00 to $113.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Charles Schwab presently has an average rating of "Moderate Buy" and a consensus target price of $101.85.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares of the company's stock, valued at $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company's stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 over the last quarter. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Stock Down 0.1%

Shares of SCHW opened at $93.39 on Wednesday. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The stock has a market capitalization of $169.53 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 0.89 and a beta of 0.97. The stock has a 50 day moving average price of $94.83 and a 200 day moving average price of $89.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

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

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio is presently 29.03%.

Charles Schwab declared that its Board of Directors has authorized a stock repurchase program on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Charles Schwab Profile

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.

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