Klingman & Associates LLC Increases Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Klingman & Associates LLC increased its stake in The Charles Schwab Corporation by 47.5%, owning a total of 8,535 shares valued at $779,000 after acquiring 2,748 shares during the 2nd quarter.
• Charles Schwab reported $1.31 earnings per share for the last quarter, exceeding analysts' expectations of $1.25, and achieved a revenue of $6.14 billion, indicating a 26.6% increase year-over-year.
• Institutional investors own 84.38% of Charles Schwab's stock, highlighting a significant interest from large investment firms in the financial services provider.

Klingman & Associates LLC boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 47.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,535 shares of the financial services provider's stock after purchasing an additional 2,748 shares during the quarter. Klingman & Associates LLC's holdings in Charles Schwab were worth $779,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after acquiring an additional 19,195 shares in the last quarter. GAMMA Investing LLC increased its position in Charles Schwab by 28.2% during the 1st quarter. GAMMA Investing LLC now owns 27,122 shares of the financial services provider's stock valued at $2,123,000 after purchasing an additional 5,973 shares during the period. Live Oak Private Wealth LLC raised its holdings in shares of Charles Schwab by 0.6% in the 1st quarter. Live Oak Private Wealth LLC now owns 221,476 shares of the financial services provider's stock valued at $17,337,000 after purchasing an additional 1,384 shares in the last quarter. Brown Lisle Cummings Inc. lifted its position in shares of Charles Schwab by 17.9% in the 1st quarter. Brown Lisle Cummings Inc. now owns 19,543 shares of the financial services provider's stock worth $1,530,000 after purchasing an additional 2,968 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Charles Schwab by 0.9% during the first quarter. JFS Wealth Advisors LLC now owns 25,251 shares of the financial services provider's stock valued at $1,977,000 after purchasing an additional 226 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective on shares of Charles Schwab to $130.00 and set an "overweight" rating for the company in a research note on Wednesday, October 1st. Citigroup boosted their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Bank of America raised their price objective on Charles Schwab from $84.00 to $86.00 and gave the company an "underperform" rating in a research report on Thursday, October 2nd. Cowen restated a "buy" rating on shares of Charles Schwab in a report on Friday. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Charles Schwab in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average target price of $106.00.

Charles Schwab Stock Up 0.8%

SCHW stock opened at $94.93 on Tuesday. The stock has a market capitalization of $172.32 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. 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 firm has a 50 day moving average of $94.62 and a 200 day moving average of $89.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the prior year, the business posted $0.71 EPS. Charles Schwab's revenue for the quarter was up 26.6% compared to the same quarter last year. Sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.27 per share. 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 1.1%. Charles Schwab's payout ratio is currently 25.29%.

Charles Schwab announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is owned by corporate insiders.

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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