Element Pointe Advisors LLC Takes Position in The Charles Schwab Corporation $SCHW

Key Points

• Element Pointe Advisors LLC opened a new position in Charles Schwab in Q1, buying 10,066 shares worth about $946,000.
• Institutional ownership in SCHW remains heavy, with 84.38% of shares held by institutions, while several other investors also increased their stakes recently.
• Analyst sentiment is mixed but constructive: the stock has a Moderate Buy consensus rating with a consensus price target of $117.65, even as BMO Capital Markets recently downgraded it to market perform.

Element Pointe Advisors LLC bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,066 shares of the financial services provider's stock, valued at approximately $946,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after purchasing an additional 19,195 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Charles Schwab by 21.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider's stock worth $415,000 after buying an additional 809 shares during the last quarter. United Bank increased its stake in shares of Charles Schwab by 7.1% during the second quarter. United Bank now owns 16,053 shares of the financial services provider's stock valued at $1,465,000 after buying an additional 1,070 shares during the period. Nebula Research & Development LLC purchased a new position in shares of Charles Schwab during the second quarter valued at approximately $552,000. Finally, Main Street Financial Solutions LLC raised its holdings in shares of Charles Schwab by 4.7% during the second quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider's stock valued at $623,000 after acquiring an additional 305 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In related news, Director Frank C. Herringer sold 2,520 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total value of $228,312.00. Following the transaction, the director directly owned 177,508 shares of the company's stock, valued at approximately $16,082,224.80. This represents a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $100.01, for a total value of $200,020.00. Following the sale, the insider owned 13,738 shares in the company, valued at approximately $1,373,937.38. This represents a 12.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,520 shares of company stock worth $622,392 over the last ninety days. 6.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. BMO Capital Markets lowered Charles Schwab from an "outperform" rating to a "market perform" rating and set a $105.00 price target for the company. in a research note on Monday. Argus set a $108.00 price objective on shares of Charles Schwab in a report on Monday, April 20th. Jefferies Financial Group dropped their target price on shares of Charles Schwab from $122.00 to $118.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Morgan Stanley lifted their target price on shares of Charles Schwab from $125.00 to $133.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Charles Schwab in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.65.

Charles Schwab Trading Up 1.3%

Shares of NYSE SCHW opened at $102.92 on Tuesday. The firm's 50 day moving average price is $93.07 and its 200-day moving average price is $95.34. The company has a market cap of $178.99 billion, a PE ratio of 20.42, a P/E/G ratio of 0.85 and a beta of 0.77. The Charles Schwab Corporation has a 52-week low of $83.96 and a 52-week high of $107.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 8th. Charles Schwab's payout ratio is presently 25.40%.

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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