CW Advisors LLC Acquires 17,377 Shares of The Charles Schwab Corporation $SCHW

Key Points

• CW Advisors LLC increased its stake in Charles Schwab Corporation by 583.1% during the first quarter, acquiring an additional 17,377 shares to bring their total holdings to 20,357 shares, valued at approximately $1,598,000.
• Several analysts have raised their price targets for SCHW stock, with Barclays increasing its target from $106 to $113, indicating a positive outlook for the company's performance.
• Charles Schwab recently authorized a $20 billion share repurchase program, which signals confidence from company leadership that its shares are undervalued.

CW Advisors LLC increased its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 583.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,357 shares of the financial services provider's stock after purchasing an additional 17,377 shares during the quarter. CW Advisors LLC's holdings in Charles Schwab were worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab in the first quarter worth about $25,000. Westside Investment Management Inc. grew its stake in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after purchasing an additional 150 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of Charles Schwab in the first quarter worth about $31,000. WFA Asset Management Corp bought a new stake in shares of Charles Schwab in the first quarter worth about $33,000. Finally, Cornerstone Planning Group LLC boosted its position in Charles Schwab by 90.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 220 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $87.57, for a total transaction of $249,574.50. Following the completion of the transaction, the insider directly owned 15,219 shares in the company, valued at approximately $1,332,727.83. This trade represents a 15.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 10,129 shares of Charles Schwab stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $911,711.29. Following the transaction, the insider owned 39,154 shares of the company's stock, valued at $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,340 shares of company stock valued at $24,250,303. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SCHW shares. Barclays lifted their price objective on Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an "overweight" rating in a research report on Friday, July 18th. 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. Citigroup lifted their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a "buy" 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 issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $99.60.

Charles Schwab Price Performance

SCHW stock opened at $95.6510 on Monday. The firm has a 50 day moving average price of $93.85 and a 200-day moving average price of $85.38. The Charles Schwab Corporation has a 52-week low of $61.16 and a 52-week high of $99.59. The firm has a market capitalization of $173.63 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 0.94 and a beta of 0.96. 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 released its earnings results 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 firm had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same period last year, the business earned $0.73 earnings per share. The business's revenue was up 24.8% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its Board of Directors has authorized a share repurchase program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is presently 29.03%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.