Cookson Peirce & Co. Inc. Purchases 3,383 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Cookson Peirce & Co. Inc. increased its stake in The Charles Schwab Corporation by 28.5% during the second quarter, owning a total of 15,262 shares valued at approximately $1,393,000 as of the latest SEC filing.
• In its recent earnings report, Charles Schwab surpassed analysts' expectations, reporting $1.31 earnings per share and $6.14 billion in revenue for the quarter, indicating a 26.6% increase from the previous year.
• The company has initiated a $20.00 billion stock buyback program, allowing it to reacquire up to 11.6% of its outstanding shares, often seen as a signal that management believes the stock is undervalued.

Cookson Peirce & Co. Inc. boosted its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 28.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 15,262 shares of the financial services provider's stock after purchasing an additional 3,383 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Charles Schwab were worth $1,393,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at about $25,000. Westside Investment Management Inc. lifted its stake in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. RMG Wealth Management LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC lifted its stake in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 191 shares during the last quarter. Finally, Stone House Investment Management LLC acquired a new stake in Charles Schwab in the 1st quarter valued at about $31,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $94.24 on Thursday. The company's 50 day moving average price is $94.53 and its two-hundred day moving average price is $90.01. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The firm has a market cap of $171.06 billion, a PE ratio of 22.07, a PEG ratio of 0.85 and a beta of 0.97. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the prior year, the business posted $0.71 EPS. The business's revenue was up 26.6% compared to the same quarter last year. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab announced that its board has initiated a stock buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several recent analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $110.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Weiss Ratings reissued a "hold (c+)" rating on shares of Charles Schwab in a report on Wednesday, October 8th. Citigroup increased their price target 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. Piper Sandler reissued a "neutral" rating on shares of Charles Schwab in a report on Tuesday, October 14th. Finally, Cowen reissued a "buy" rating on shares of Charles Schwab in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $106.00.

Insider Activity

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction that occurred on 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 owned 58,999 shares in the company, valued at $5,776,592.09. This represents a 29.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 267,128 shares of company stock worth $26,232,077. Insiders own 6.30% of the company's stock.

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.

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