CX Institutional Acquires 79,621 Shares of The Charles Schwab Corporation $SCHW

Key Points

• CX Institutional increased its Charles Schwab position by 153.1% in the second quarter, acquiring 79,621 shares and bringing its total holdings to 131,640 shares valued at approximately $12.1 million. Institutional investors collectively own 84.38% of SCHW.
• Analysts remain broadly bullish, with 18 of 21 covering analysts rating the stock Strong Buy or Buy and a consensus price target of $121.17. Charles Schwab also exceeded quarterly expectations, reporting $1.62 in EPS and $7.07 billion in revenue.
• Insiders sold 363,848 shares worth roughly $37.9 million over the past 90 days under pre-arranged trading plans, while the company announced a quarterly dividend of $0.32 per share, representing a 1.2% annualized yield.

CX Institutional boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 153.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,640 shares of the financial services provider's stock after purchasing an additional 79,621 shares during the period. CX Institutional's holdings in Charles Schwab were worth $12,146,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Dogwood Wealth Management LLC raised its holdings in shares of Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider's stock valued at $25,000 after buying an additional 123 shares during the last quarter. Scarborough Advisors LLC acquired a new position in Charles Schwab during the 1st quarter worth about $29,000. Optima Capital LLC bought a new stake in Charles Schwab during the 4th quarter worth about $30,000. McIlrath & Eck LLC grew its holdings in Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider's stock worth $32,000 after acquiring an additional 189 shares during the last quarter. Finally, Main Street Group LTD acquired a new stake in Charles Schwab in the 1st quarter valued at about $33,000. Institutional investors own 84.38% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research reports. Argus upped their target price on shares of Charles Schwab from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Citigroup restated a "market outperform" rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price objective on Charles Schwab from $128.00 to $131.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Compass Point started coverage on Charles Schwab in a research report on Monday. They issued a "buy" rating and a $135.00 price objective on the stock. Finally, Zacks Research raised Charles Schwab from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Charles Schwab currently has an average rating of "Moderate Buy" and a consensus target price of $121.17.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $104.21, for a total value of $208,420.00. Following the sale, the insider directly owned 11,738 shares in the company, valued at $1,223,216.98. This trade represents a 14.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nigel J. Murtagh sold 32,947 shares of Charles Schwab stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $104.01, for a total transaction of $3,426,817.47. Following the transaction, the insider directly owned 57,972 shares in the company, valued at $6,029,667.72. The trade was a 36.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 363,848 shares of company stock valued at $37,874,706. Insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

SCHW opened at $105.76 on Tuesday. The company has a fifty day moving average price of $95.64 and a two-hundred day moving average price of $95.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $107.50. The firm has a market capitalization of $183.94 billion, a PE ratio of 19.23, a P/E/G ratio of 0.80 and a beta of 0.76.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. The company had revenue of $7.07 billion during the quarter, compared to analysts' expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The business's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS. As a group, analysts anticipate that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab's dividend payout ratio (DPR) is 23.27%.

About Charles Schwab

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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