S&G Foundation Takes $1 Million Position in The Charles Schwab Corporation $SCHW

Key Points

• S&G Foundation purchased 10,837 Charles Schwab shares worth approximately $1 million in the second quarter. Institutional investors collectively own 84.38% of SCHW.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $121.17; several firms recently raised their targets to between $125 and $136.
• Charles Schwab exceeded quarterly earnings and revenue expectations, reporting $1.62 in EPS and $7.07 billion in revenue, while announcing a quarterly dividend of $0.32 per share. Shares opened at $112.36, near their 52-week high.

S&G Foundation purchased a new position in 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. The institutional investor purchased 10,837 shares of the financial services provider's stock, valued at approximately $1,000,000. Charles Schwab comprises 0.0% of S&G Foundation's holdings, making the stock its 17th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after acquiring an additional 19,195 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Charles Schwab by 21.6% during the second quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider's stock valued at $415,000 after acquiring an additional 809 shares in the last quarter. United Bank raised its position in shares of Charles Schwab by 7.1% in the 2nd quarter. United Bank now owns 16,053 shares of the financial services provider's stock worth $1,465,000 after purchasing an additional 1,070 shares during the last quarter. Nebula Research & Development LLC purchased a new position in shares of Charles Schwab in the 2nd quarter worth about $552,000. Finally, Main Street Financial Solutions LLC boosted its stake in Charles Schwab by 4.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider's stock worth $623,000 after purchasing an additional 305 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SCHW. Barclays raised their price objective on shares of Charles Schwab from $122.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Compass Point began coverage on shares of Charles Schwab in a research note on Monday, August 3rd. They issued a "buy" rating and a $135.00 target price on the stock. Citigroup reiterated a "market outperform" rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Zacks Research raised shares of Charles Schwab from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 9th. Finally, Morgan Stanley boosted their price objective on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.17.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $112.36 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $194.31 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 0.86 and a beta of 0.76. The business has a 50-day simple moving average of $101.59 and a two-hundred day simple moving average of $96.15. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $112.40.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the firm posted $1.14 EPS. The business's quarterly revenue was up 20.9% compared to the same quarter last year. On average, analysts expect that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.32 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.28 annualized dividend and a yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is currently 23.27%.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 93,408 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $104.64, for a total transaction of $9,774,213.12. Following the transaction, the chairman directly owned 529,346 shares of the company's stock, valued at $55,390,765.44. This represents a 15.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan S. Beatty sold 1,000 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $111.33, for a total value of $111,330.00. Following the completion of the transaction, the insider owned 10,738 shares in the company, valued at approximately $1,195,461.54. This trade represents a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 398,984 shares of company stock valued at $41,699,569 in the last ninety days. Corporate insiders own 6.30% of the company's stock.

About Charles Schwab

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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