The Charles Schwab Corporation $SCHW Shares Sold by RWA Wealth Partners LLC

Key Points

• RWA Wealth Partners LLC reduced its stake in Charles Schwab by 4.6%, now holding 200,815 shares valued at approximately $15.72 million.
• Charles Schwab reported a strong quarterly performance with $1.14 EPS, exceeding analysts' expectations, and announced a $20 billion stock buyback program.
• Insider trading activity included Chairman Walter W. Bettinger selling 173,876 shares, reflecting a 22.74% decrease in his ownership of the stock.

RWA Wealth Partners LLC lowered its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,815 shares of the financial services provider's stock after selling 9,729 shares during the quarter. RWA Wealth Partners LLC's holdings in Charles Schwab were worth $15,720,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SCHW. Atwood & Palmer Inc. bought a new stake in Charles Schwab during the 1st quarter valued at approximately $25,000. Westside Investment Management Inc. raised its stake in 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 purchasing an additional 150 shares during the period. Stone House Investment Management LLC bought a new stake in Charles Schwab during the 1st quarter valued at approximately $31,000. WFA Asset Management Corp bought a new stake in Charles Schwab during the 1st quarter valued at approximately $33,000. Finally, Cornerstone Planning Group LLC raised its stake in Charles Schwab by 90.5% during 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 during the period. Institutional investors own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the transaction, the director owned 105,654 shares of the company's stock, valued at $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul V. Woolway sold 10,129 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the transaction, the insider directly owned 39,154 shares of the company's stock, valued at $3,524,251.54. The trade was a 20.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,340 shares of company stock valued at $24,250,303 in the last ninety days. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Price Performance

SCHW stock traded up $0.2670 during mid-day trading on Thursday, reaching $95.7770. 5,068,157 shares of the company's stock were exchanged, compared to its average volume of 9,993,837. The company has a market cap of $173.86 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96. The stock's 50 day moving average is $93.54 and its 200 day moving average is $85.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The Charles Schwab Corporation has a 12-month low of $61.16 and a 12-month high of $99.59.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion for 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 for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 earnings per share. On average, research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its board has approved a stock repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a dividend of $0.27 per share. The ex-dividend date is 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 is currently 29.03%.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research analyst reports. William Blair cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Morgan Stanley raised their price target on Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. TD Securities raised their price target on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Bank of America raised their price target on Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a report on Monday, July 21st. Finally, Truist Financial raised their price target on Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a report on Friday, August 15th. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Charles Schwab presently has an average rating of "Moderate Buy" and an average target price 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.