The Charles Schwab Corporation $SCHW Shares Sold by Paradigm Capital Management LLC NV

Key Points

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Paradigm Capital Management LLC NV lowered its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 52.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,775 shares of the financial services provider's stock after selling 4,100 shares during the period. Paradigm Capital Management LLC NV's holdings in Charles Schwab were worth $296,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Atwood & Palmer Inc. acquired a new stake in Charles Schwab in the 1st quarter worth about $25,000. Westside Investment Management Inc. boosted its stake in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after buying an additional 150 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the 1st quarter worth about $31,000. WFA Asset Management Corp acquired a new stake in Charles Schwab in the 1st quarter worth about $33,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Stock Down 0.2%

Shares of SCHW traded down $0.1690 during trading on Friday, reaching $95.6510. The company's stock had a trading volume of 12,859,422 shares, compared to its average volume of 10,012,337. The Charles Schwab Corporation has a twelve month low of $61.16 and a twelve month 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 company has a market cap of $173.63 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 0.94 and a beta of 0.96. The company has a fifty day moving average of $93.68 and a two-hundred day moving average of $85.25.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share 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 business 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 business earned $0.73 EPS. The business's quarterly revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its Board of Directors has initiated a share buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Charles Schwab Dividend Announcement

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

Insider Activity

In related news, insider Paul V. Woolway sold 10,129 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $911,711.29. Following the completion of the transaction, the insider directly owned 39,154 shares in the company, valued at $3,524,251.54. This represents a 20.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,850 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $87.57, for a total value of $249,574.50. Following the transaction, the insider owned 15,219 shares of the company's stock, valued at approximately $1,332,727.83. The trade was a 15.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 250,340 shares of company stock worth $24,250,303 over the last 90 days. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SCHW. Morgan Stanley lifted their price objective on Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Barclays lifted their price objective on Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Citigroup lifted their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Truist Financial lifted their price objective on Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Finally, William Blair lowered Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Sixteen investment 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $99.60.

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.