Patriot Financial Group Insurance Agency LLC Has $5.02 Million Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Patriot Financial Group Insurance Agency LLC increased its position in Charles Schwab by 14.1%, holding 54,979 shares valued at approximately $5.02 million at the end of Q2.
• Insider selling has occurred, with General Counsel Peter J. Morgan III selling 50,016 shares for about $4.85 million, contributing to a total of 267,128 shares sold worth over $26 million in the past three months.
• Charles Schwab announced a $20 billion share buyback plan and a quarterly dividend of $0.27 per share, reflecting confidence in its stock value and commitment to returning capital to shareholders.

Patriot Financial Group Insurance Agency LLC grew its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 14.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,979 shares of the financial services provider's stock after purchasing an additional 6,776 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in Charles Schwab were worth $5,016,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SCHW. Atwood & Palmer Inc. acquired a new position in shares of Charles Schwab during the 1st quarter valued at about $25,000. Westside Investment Management Inc. increased its holdings in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 191 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of Charles Schwab during the 1st quarter valued at about $31,000. Finally, Activest Wealth Management increased its holdings in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 399 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 11,923 shares of the company's stock, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock worth $26,232,077 over the last three months. 6.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SCHW shares. Bank of America increased their price objective on Charles Schwab from $84.00 to $86.00 and gave the company an "underperform" rating in a report on Thursday. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and increased their target price for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. JMP Securities increased their target price on Charles Schwab from $106.00 to $110.00 and gave the company a "market outperform" rating in a research note on Monday, July 21st. Finally, Zacks Research downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Sixteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.05.

Charles Schwab Price Performance

Shares of SCHW stock opened at $92.75 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $168.36 billion, a P/E ratio of 24.93, a P/E/G ratio of 0.91 and a beta of 0.97. The Charles Schwab Corporation has a 12 month low of $62.41 and a 12 month high of $99.59. The stock has a 50 day moving average of $95.42 and a two-hundred day moving average of $88.46.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab's revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the company earned $0.73 EPS. As a group, equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

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

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.