The Charles Schwab Corporation (NYSE:SCHW) Shares Sold by Gill Capital Partners LLC

Key Points

• Gill Capital Partners LLC has reduced its holdings in The Charles Schwab Corporation by 7.2%, selling 2,999 shares, leaving them with a total of 38,794 shares, valued at approximately $3.04 million.
• Charles Schwab has declared a quarterly dividend of $0.27 per share, which will be paid on August 22nd, representing an annual yield of 1.1% and a payout ratio of 29.03%.
• Several institutional investors have increased their positions in Charles Schwab, with Brighton Jones LLC raising its stake by 380.5%, indicating strong institutional confidence despite recent market fluctuations.

Gill Capital Partners LLC reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,794 shares of the financial services provider's stock after selling 2,999 shares during the period. Charles Schwab makes up approximately 1.1% of Gill Capital Partners LLC's portfolio, making the stock its 29th largest position. Gill Capital Partners LLC's holdings in Charles Schwab were worth $3,037,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in shares of Charles Schwab by 13.4% in the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after purchasing an additional 1,864,286 shares during the period. Invesco Ltd. increased its holdings in Charles Schwab by 3.0% during the 4th quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider's stock valued at $1,098,497,000 after acquiring an additional 430,250 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Charles Schwab by 27.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,653,684 shares of the financial services provider's stock valued at $862,489,000 after acquiring an additional 2,511,082 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Charles Schwab by 5.9% during the 1st quarter. Bank of New York Mellon Corp now owns 11,056,953 shares of the financial services provider's stock valued at $865,538,000 after acquiring an additional 618,101 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in Charles Schwab by 354.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after acquiring an additional 8,584,173 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Trading Down 0.8%

Charles Schwab stock traded down $0.81 during trading on Thursday, reaching $95.91. The company had a trading volume of 7,260,222 shares, compared to its average volume of 10,118,482. The Charles Schwab Corporation has a 12-month low of $61.16 and a 12-month high of $99.59. The stock's 50 day moving average price is $91.81 and its two-hundred day moving average price is $84.11. The firm has a market capitalization of $174.26 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 0.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. Charles Schwab's revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 8th. Charles Schwab's payout ratio is currently 29.03%.

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

Analyst Ratings Changes

SCHW has been the subject of several recent research reports. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an "overweight" rating in a report on Friday, July 18th. Morgan Stanley raised their target price on shares of Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Bank of America raised their target price on shares of Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a report on Monday, July 21st. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a report on Friday, April 25th. Finally, Raymond James Financial restated an "outperform" rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $99.35.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the sale, the director directly owned 105,654 shares in the company, valued at $9,303,891.24. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business's 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 directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 308,016 shares of company stock valued at $29,341,433 over the last quarter. Company insiders own 6.30% of the company's stock.

About Charles Schwab

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.