Crux Wealth Advisors Acquires 7,807 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Crux Wealth Advisors has increased its stake in The Charles Schwab Corporation by 33.1%, acquiring an additional 7,807 shares, bringing its total holdings to 31,422 shares valued at approximately $2.87 million.
• Institutional investors now own 84.38% of Charles Schwab's stock, indicating strong confidence in the company from large funds and investors.
• Charles Schwab recently reported earnings of $1.31 per share, which exceeded analysts' expectations, with a revenue of $6.14 billion, marking a 26.6% year-over-year increase.

Crux Wealth Advisors raised its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 33.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 31,422 shares of the financial services provider's stock after acquiring an additional 7,807 shares during the period. Charles Schwab makes up 1.2% of Crux Wealth Advisors' holdings, making the stock its 21st largest position. Crux Wealth Advisors' holdings in Charles Schwab were worth $2,867,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Westside Investment Management Inc. grew its position in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after buying an additional 150 shares during the period. RMG Wealth Management LLC bought a new position in Charles Schwab during the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC grew its holdings in Charles Schwab by 97.9% during the first 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 period. Stone House Investment Management LLC bought a new stake in Charles Schwab in the first quarter valued at approximately $31,000. Finally, Activest Wealth Management increased its stake in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 399 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the company a "buy" rating in a report on Friday. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Zacks Research lowered Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $119.00 to $120.00 and gave the company a "buy" rating in a research report on Friday. Finally, Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an "outperform" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.70.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares of the company's stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider directly owned 41,188 shares in the company, valued at $3,956,519.28. This trade represents a 7.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 267,128 shares of company stock worth $26,232,077. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Stock Up 0.8%

Shares of Charles Schwab stock opened at $94.17 on Friday. The firm has a market cap of $170.93 billion, a PE ratio of 22.05, a P/E/G ratio of 0.89 and a beta of 0.97. The business's 50 day simple moving average is $94.68 and its 200 day simple moving average is $89.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.14 billion during the quarter, compared to analysts' expectations of $5.93 billion. During the same period last year, the business earned $0.71 EPS. The business's quarterly revenue was up 26.6% on a year-over-year basis. On average, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab's payout ratio is 25.29%.

Charles Schwab declared that its board has authorized a stock repurchase plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are usually a sign 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.

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