Delaney Dennis R Has $1.14 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Delaney Dennis R increased its holdings in The Charles Schwab Corporation by 70.0%, now owning 12,500 shares valued at approximately $1.14 million.
• Institutional investors and hedge funds own 84.38% of Charles Schwab's stock, with several firms increasing their positions during the second quarter.
• Charles Schwab announced a $20 billion stock buyback program, authorizing the company to repurchase up to 11.6% of its shares, which reflects management's view that the stock is undervalued.

Delaney Dennis R increased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 70.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 12,500 shares of the financial services provider's stock after purchasing an additional 5,145 shares during the period. Delaney Dennis R's holdings in Charles Schwab were worth $1,140,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SCHW. Oregon Public Employees Retirement Fund boosted its stake in shares of Charles Schwab by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 147,692 shares of the financial services provider's stock worth $13,475,000 after acquiring an additional 1,300 shares during the period. Sequoia Financial Advisors LLC boosted its position in Charles Schwab by 0.6% during the second quarter. Sequoia Financial Advisors LLC now owns 330,159 shares of the financial services provider's stock worth $30,124,000 after purchasing an additional 1,999 shares during the period. Vest Financial LLC increased its holdings in shares of Charles Schwab by 42.2% in the second quarter. Vest Financial LLC now owns 21,112 shares of the financial services provider's stock valued at $1,926,000 after purchasing an additional 6,267 shares during the last quarter. Cypress Capital Group bought a new position in shares of Charles Schwab in the second quarter valued at about $258,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Charles Schwab by 535.1% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 3,296 shares of the financial services provider's stock worth $298,000 after buying an additional 2,777 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock worth $26,232,077 in the last ninety days. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SCHW shares. Bank of America increased their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the company an "underperform" rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Morgan Stanley dropped their target price on Charles Schwab to $130.00 and set an "overweight" rating for the company in a report on Wednesday, October 1st. Raymond James Financial restated an "outperform" rating and issued a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Finally, Citigroup boosted 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.57.

Charles Schwab Trading Down 2.1%

Shares of Charles Schwab stock opened at $92.08 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $167.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.89 and a beta of 0.97. The firm's 50-day moving average price is $94.97 and its two-hundred day moving average price is $89.19. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59.

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 for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.During the same period in the prior year, the company earned $0.73 earnings per share. The company's quarterly revenue was up 24.8% on a year-over-year basis. On average, analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its Board of Directors has approved a stock buyback program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Charles Schwab Announces Dividend

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

Charles Schwab Company 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.