Horizon Investments LLC increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,779 shares of the financial services provider's stock after buying an additional 4,155 shares during the quarter. Horizon Investments LLC's holdings in Charles Schwab were worth $2,324,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Charles Schwab by 380.5% in 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 in the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Charles Schwab in the 4th quarter valued at $411,000. Gabelli Funds LLC lifted its stake in shares of Charles Schwab by 0.3% in the 4th quarter. Gabelli Funds LLC now owns 61,237 shares of the financial services provider's stock valued at $4,532,000 after acquiring an additional 162 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Charles Schwab by 5.5% in the 4th quarter. NewEdge Advisors LLC now owns 97,764 shares of the financial services provider's stock valued at $7,235,000 after acquiring an additional 5,067 shares during the last quarter. Finally, Alpha DNA Investment Management LLC lifted its stake in shares of Charles Schwab by 119.3% in the 4th quarter. Alpha DNA Investment Management LLC now owns 40,274 shares of the financial services provider's stock valued at $2,981,000 after acquiring an additional 21,906 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.
Charles Schwab Trading Down 0.3%
Shares of SCHW stock traded down $0.2850 during mid-day trading on Wednesday, hitting $95.4750. The company's stock had a trading volume of 5,464,872 shares, compared to its average volume of 9,998,271. The company's fifty day simple moving average is $93.40 and its 200-day simple moving average is $85.09. The Charles Schwab Corporation has a 52 week low of $61.16 and a 52 week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market cap of $173.31 billion, a PE ratio of 25.66, a P/E/G ratio of 0.92 and a beta of 0.96.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data 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. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same period last year, the company posted $0.73 EPS. The business's quarterly revenue was up 24.8% on a year-over-year basis. As a group, equities research 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. Stockholders of record on Friday, August 8th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is 29.03%.
Charles Schwab announced that its Board of Directors has approved a stock buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Raymond James Financial reiterated an "outperform" rating and issued a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Citigroup increased their price target on Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Bank of America increased their price target on Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a research note on Monday, July 21st. UBS Group increased their price target on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the company an "overweight" rating in a research note on Friday, July 18th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab has an average rating of "Moderate Buy" and an average target price of $99.60.
Get Our Latest Stock Analysis on SCHW
Insider Transactions at Charles Schwab
In other news, General Counsel Peter J. Morgan III sold 10,176 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 10,129 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the completion of the sale, the insider owned 39,154 shares of the company's stock, valued at approximately $3,524,251.54. This represents a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 260,516 shares of company stock worth $25,139,583. Corporate insiders own 6.30% of the company's stock.
About Charles Schwab
(
Free Report)
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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