Gill Capital Partners LLC Lowers Stock Position in The Charles Schwab Corporation $SCHW

Key Points

• Gill Capital Partners LLC has decreased its stake in The Charles Schwab Corporation by 11.6%, now holding 34,280 shares valued at approximately $3.1 million.
• Several institutional investors, including Vanguard Group Inc. and Price T. Rowe Associates Inc., have increased their stakes significantly in Charles Schwab during the first quarter.
• Analysts have raised price targets for Charles Schwab, with JPMorgan increasing theirs from $119 to $121, suggesting a positive outlook for the company's stock.

Gill Capital Partners LLC reduced its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,280 shares of the financial services provider's stock after selling 4,514 shares during the quarter. Gill Capital Partners LLC's holdings in Charles Schwab were worth $3,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Charles Schwab by 15.4% in the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock valued at $11,616,380,000 after purchasing an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider's stock valued at $6,422,795,000 after buying an additional 8,954,248 shares in the last quarter. Northern Trust Corp grew its stake in Charles Schwab by 10.8% during the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider's stock worth $1,365,227,000 after buying an additional 1,700,384 shares during the period. Alliancebernstein L.P. increased its position in shares of Charles Schwab by 16.0% in the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider's stock worth $1,339,822,000 after acquiring an additional 2,355,309 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Charles Schwab by 5.0% in the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider's stock valued at $1,220,107,000 after acquiring an additional 743,906 shares during the period. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were 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 $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul V. Woolway sold 3,205 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company's stock, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,128 shares of company stock valued at $26,232,077. Corporate insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Charles Schwab from $119.00 to $121.00 and gave the company an "overweight" rating in a report on Monday. BMO Capital Markets assumed coverage on Charles Schwab in a report on Friday, October 3rd. They set an "outperform" rating and a $110.00 target price on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Charles Schwab in a report on Wednesday, October 8th. Truist Financial lifted their price objective on shares of Charles Schwab from $112.00 to $113.00 and gave the company a "buy" rating in a research note on Friday, October 17th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $114.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.00.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $94.68 on Thursday. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a market cap of $171.87 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The company's 50-day moving average price is $94.53 and its two-hundred day moving average price is $90.01.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.06. The business had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business's revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its board has approved a stock repurchase program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.

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.

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