The Charles Schwab Corporation $SCHW is Greenstone Partners & Co. LLC's 5th Largest Position

Key Points

• Greenstone Partners & Co. LLC significantly increased its stake in The Charles Schwab Corporation by 99.4%, acquiring 217,433 additional shares, bringing its total holdings to 436,275 shares, valued at approximately $34.15 million.
• Several hedge funds have recently modified their positions in SCHW, with institutional investors now owning 84.38% of the company's stock, reflecting strong interest in the financial services provider.
• The Charles Schwab Corporation declared a quarterly dividend of $0.27 per share, with a total planned stock buyback of $20 billion, indicating confidence in its market valuation.

Greenstone Partners & Co. LLC boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 99.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,275 shares of the financial services provider's stock after buying an additional 217,433 shares during the period. Charles Schwab accounts for about 9.1% of Greenstone Partners & Co. LLC's portfolio, making the stock its 5th largest holding. Greenstone Partners & Co. LLC's holdings in Charles Schwab were worth $34,152,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SCHW. Atwood & Palmer Inc. purchased a new stake in Charles Schwab during the 1st quarter worth approximately $25,000. Westside Investment Management Inc. boosted its holdings in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after purchasing an additional 150 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of Charles Schwab during the 1st quarter worth approximately $31,000. WFA Asset Management Corp acquired a new position in shares of Charles Schwab during the 1st quarter worth approximately $33,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Charles Schwab by 90.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock worth $36,000 after purchasing an additional 220 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,850 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $87.57, for a total transaction of $249,574.50. Following the completion of the transaction, the insider owned 15,219 shares in the company, valued at approximately $1,332,727.83. The trade was a 15.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider owned 58,999 shares of the company's stock, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,340 shares of company stock valued at $24,250,303. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Truist Financial boosted their target price on Charles Schwab from $107.00 to $112.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Piper Sandler lifted their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. William Blair lowered shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Citigroup lifted their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Finally, JMP Securities upped their price target on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a research note on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $99.60.

Charles Schwab Stock Down 0.2%

NYSE SCHW traded down $0.1690 on Friday, hitting $95.6510. 12,859,422 shares of the stock were exchanged, compared to its average volume of 8,160,454. 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 Charles Schwab Corporation has a fifty-two week low of $61.16 and a fifty-two week high of $99.59. The company has a market cap of $173.63 billion, a PE ratio of 25.71, a PEG ratio of 0.94 and a beta of 0.96. The company has a 50-day moving average price of $93.85 and a 200-day moving average price of $85.38.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company's revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. 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 of Directors has authorized a share repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab's payout ratio is presently 29.03%.

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.