Integrity Alliance LLC. Makes New $643,000 Investment in The Charles Schwab Corporation $SCHW

Key Points

• Integrity Alliance LLC has made a significant investment of $643,000 in The Charles Schwab Corporation by purchasing 8,212 shares, according to a recent SEC filing.
• Upcoming price targets for Charles Schwab have been raised by multiple analysts, with projections ranging from $82.00 to $110.00, indicating a generally positive outlook for the stock.
• The company has declared a quarterly $0.27 dividend and authorized a substantial $20 billion share buyback plan, signifying confidence in its stock value and financial health.

Integrity Alliance LLC. purchased a new position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,212 shares of the financial services provider's stock, valued at approximately $643,000.

Several other institutional investors have also added to or reduced their stakes in the business. Anchor Investment Management LLC boosted its holdings in Charles Schwab by 5.4% in the first quarter. Anchor Investment Management LLC now owns 29,487 shares of the financial services provider's stock worth $2,308,000 after acquiring an additional 1,509 shares in the last quarter. Glenview Trust co boosted its holdings in Charles Schwab by 3.9% in the first quarter. Glenview Trust co now owns 107,062 shares of the financial services provider's stock worth $8,381,000 after acquiring an additional 4,028 shares in the last quarter. Aspen Investment Management Inc boosted its holdings in Charles Schwab by 48.6% in the first quarter. Aspen Investment Management Inc now owns 24,165 shares of the financial services provider's stock worth $1,892,000 after acquiring an additional 7,908 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in Charles Schwab by 42.7% in the first quarter. Plato Investment Management Ltd now owns 30,844 shares of the financial services provider's stock worth $2,441,000 after acquiring an additional 9,231 shares in the last quarter. Finally, SCS Capital Management LLC acquired a new stake in Charles Schwab in the first quarter worth about $926,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SCHW shares. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $65.00 to $82.00 in a report on Monday, June 9th. JMP Securities lifted their target price on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a report on Monday, July 21st. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Citigroup lifted their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and an average target price of $99.60.

Insider Buying and Selling

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman directly owned 590,734 shares of the company's stock, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 298,214 shares of company stock valued at $29,022,580 in the last three months. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Trading Down 0.5%

Charles Schwab stock opened at $93.50 on Friday. The Charles Schwab Corporation has a 52 week low of $61.81 and a 52 week high of $99.59. The company has a market capitalization of $169.72 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. The stock has a 50-day moving average price of $95.41 and a 200 day moving average price of $86.76. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.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 company posted $0.73 earnings per share. Charles Schwab's revenue for the quarter was up 24.8% on a year-over-year basis. Sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Charles Schwab's payout ratio is presently 29.03%.

Charles Schwab announced that its board has approved a share buyback plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are 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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