Park Avenue Securities LLC Takes Position in The Charles Schwab Corporation $SCHW

Key Points

• Park Avenue Securities LLC has acquired 39,516 shares of The Charles Schwab Corporation, valued at approximately $3.6 million, as reported in their recent 13F filing with the SEC.
• The company plans a share repurchase of up to $20 billion, indicating confidence in its stock value and aiming to repurchase 11.6% of its shares.
• Charles Schwab reported $1.14 EPS for the last quarter, surpassing estimates of $1.10, with revenue increasing by 24.8% year-over-year.

Park Avenue Securities LLC acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,516 shares of the financial services provider's stock, valued at approximately $3,605,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SCHW. Brighton Jones LLC increased its holdings in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after buying an additional 19,195 shares during the period. GTS Securities LLC increased its holdings in Charles Schwab by 125.3% in the 4th quarter. GTS Securities LLC now owns 12,091 shares of the financial services provider's stock worth $895,000 after buying an additional 59,892 shares during the period. Mackenzie Financial Corp increased its holdings in Charles Schwab by 5.2% in the 4th quarter. Mackenzie Financial Corp now owns 495,524 shares of the financial services provider's stock worth $36,674,000 after buying an additional 24,677 shares during the period. Great Valley Advisor Group Inc. increased its holdings in Charles Schwab by 8.6% in the 4th quarter. Great Valley Advisor Group Inc. now owns 32,827 shares of the financial services provider's stock worth $2,430,000 after buying an additional 2,599 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new position in Charles Schwab in the 4th quarter worth approximately $293,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at approximately $3,956,519.28. This trade represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company's stock, valued at $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,213 shares of company stock worth $26,232,180 in the last ninety days. Company insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Bank of America increased their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a report on Monday, July 21st. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Raymond James Financial restated an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. JMP Securities upped their price objective on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a research report on Monday, July 21st. Finally, Citigroup upped their price objective on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.00.

Charles Schwab Trading Up 0.0%

Shares of SCHW stock opened at $94.34 on Tuesday. The stock's fifty day moving average is $95.46 and its two-hundred day moving average is $87.55. 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 firm has a market capitalization of $171.25 billion, a P/E ratio of 25.36, a PEG ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a fifty-two week low of $62.41 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm's revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. Research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Dividend Announcement

The company also recently disclosed 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 was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is presently 29.03%.

Charles Schwab 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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