Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,706 shares of the financial services provider's stock, valued at approximately $247,000.
Several other institutional investors have also modified their holdings of the stock. Vanguard Personalized Indexing Management LLC raised its position in Charles Schwab by 26.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider's stock valued at $17,387,000 after purchasing an additional 40,275 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in Charles Schwab in the 1st quarter valued at $79,605,000. Independent Advisor Alliance raised its position in Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock valued at $3,061,000 after purchasing an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock valued at $92,493,000 after purchasing an additional 68,858 shares during the last quarter. Finally, PFG Investments LLC raised its position in Charles Schwab by 10.2% in the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider's stock valued at $543,000 after purchasing an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on SCHW shares. Barclays reiterated an "overweight" rating and issued a $114.00 price target on shares of Charles Schwab in a research report on Wednesday, October 8th. William Blair downgraded shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Citigroup upped their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Morgan Stanley cut their price objective on shares of Charles Schwab to $130.00 and set an "overweight" rating for the company in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $101.85.
Check Out Our Latest Report on SCHW
Insider Transactions at Charles Schwab
In related news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider directly owned 34,778 shares of the company's stock, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 in the last 90 days. Insiders own 6.30% of the company's stock.
Charles Schwab Stock Performance
NYSE:SCHW opened at $94.51 on Thursday. 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 $65.88 and a fifty-two week high of $99.59. The stock has a market cap of $171.55 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The firm's fifty day simple moving average is $94.79 and its 200-day simple moving average is $89.37.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. During the same period in the prior year, the company posted $0.73 EPS. The business's revenue for the quarter was up 24.8% on a year-over-year basis. 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 was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio is presently 29.03%.
Charles Schwab announced that its Board of Directors has approved a share buyback plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its shares are undervalued.
Charles Schwab Company Profile
(
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.
Further Reading
Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW - Free Report).
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