Sagespring Wealth Partners LLC Grows Stake in The Charles Schwab Corporation $SCHW

Key Points

• Sagespring Wealth Partners LLC increased its holdings in The Charles Schwab Corporation by 58.4%, owning a total of 14,313 shares worth approximately $1.3 million.
• Charles Schwab recently announced a quarterly dividend of $0.27 per share and initiated a stock repurchase plan allowing for up to $20 billion to be bought back.
• Wall Street analysts have generally rated Charles Schwab positively, with an average rating of "Moderate Buy" and a price target around $101.85.

Sagespring Wealth Partners LLC grew its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 58.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,313 shares of the financial services provider's stock after purchasing an additional 5,277 shares during the period. Sagespring Wealth Partners LLC's holdings in Charles Schwab were worth $1,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. RMG Wealth Management LLC purchased a new position in shares of Charles Schwab in the 2nd quarter valued at approximately $27,000. Westside Investment Management Inc. raised its holdings in shares of Charles Schwab by 75.0% in the first 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. CBIZ Investment Advisory Services LLC lifted its stake in shares of Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock worth $30,000 after buying an additional 191 shares during the period. Stone House Investment Management LLC acquired a new stake in shares of Charles Schwab during the first quarter worth $31,000. Finally, Activest Wealth Management grew its holdings in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock valued at $32,000 after buying an additional 399 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on SCHW. BMO Capital Markets initiated coverage on Charles Schwab in a research report on Friday, October 3rd. They set an "outperform" rating and a $110.00 price target for the company. Raymond James Financial reiterated an "outperform" rating and issued a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. William Blair lowered shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Charles Schwab from $114.00 to $113.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Charles Schwab has an average rating of "Moderate Buy" and an average price target of $101.85.

Charles Schwab Price Performance

Charles Schwab stock opened at $93.39 on Wednesday. The stock has a market capitalization of $169.53 billion, a P/E ratio of 25.11, a P/E/G ratio of 0.89 and a beta of 0.97. The company's fifty day moving average price is $94.83 and its 200 day moving average price is $89.33. 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 Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $5.64 billion. During the same period last year, the firm posted $0.73 earnings per share. The company's revenue was up 24.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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 paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab's payout ratio is 29.03%.

Charles Schwab announced that its Board of Directors has initiated a stock repurchase 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 buy up to 11.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Activity at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, the insider directly owned 34,778 shares of the company's stock, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 in the last quarter. Corporate insiders own 6.30% of the company's stock.

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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