The Charles Schwab Corporation $SCHW Shares Sold by Teewinot Capital Advisers L.L.C.

Key Points

• Teewinot Capital Advisers L.L.C. has significantly reduced its stake in The Charles Schwab Corporation, selling 591,668 shares and now holding only 44,934 shares, which represents a decrease of 92.9%.
• Major institutional changes include acquisitions by firms such as Atwood & Palmer and a remarkable 6,650.0% increase in shares owned by Activest Wealth Management.
• Charles Schwab recently announced a $20 billion share buyback plan and has declared a quarterly dividend of $0.27, reflecting a belief that its shares are undervalued.

Teewinot Capital Advisers L.L.C. lowered its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 92.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,934 shares of the financial services provider's stock after selling 591,668 shares during the quarter. Charles Schwab accounts for about 0.4% of Teewinot Capital Advisers L.L.C.'s portfolio, making the stock its 20th largest position. Teewinot Capital Advisers L.L.C.'s holdings in Charles Schwab were worth $3,517,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. UniSuper Management Pty Ltd lifted its holdings in shares of Charles Schwab by 17.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 112,318 shares of the financial services provider's stock valued at $8,792,000 after acquiring an additional 16,920 shares during the last quarter. Rise Advisors LLC boosted its holdings in shares of Charles Schwab by 25.7% in the 1st quarter. Rise Advisors LLC now owns 1,021 shares of the financial services provider's stock worth $80,000 after purchasing an additional 209 shares during the period. Route One Investment Company L.P. boosted its holdings in shares of Charles Schwab by 3.1% in the 1st quarter. Route One Investment Company L.P. now owns 3,373,943 shares of the financial services provider's stock worth $264,112,000 after purchasing an additional 100,000 shares during the period. Parkwood LLC purchased a new position in shares of Charles Schwab in the 1st quarter worth approximately $24,256,000. Finally, Permanens Capital L.P. boosted its holdings in shares of Charles Schwab by 16.1% in the 1st quarter. Permanens Capital L.P. now owns 54,528 shares of the financial services provider's stock worth $4,268,000 after purchasing an additional 7,561 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the sale, the chairman owned 590,734 shares of the company's stock, valued at $58,388,148.56. This trade represents a 22.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,205 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total transaction of $305,116.00. Following the sale, the insider directly owned 37,983 shares in the company, valued at $3,615,981.60. The trade was a 7.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 298,214 shares of company stock worth $29,022,580. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Piper Sandler lifted their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Citigroup boosted their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods upped their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Morgan Stanley upped their price target on shares of Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $99.60.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded up $0.21 during midday trading on Tuesday, hitting $93.66. The company had a trading volume of 10,771,963 shares, compared to its average volume of 8,476,118. The stock has a market cap of $170.01 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 0.92 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $95.29 and a 200 day simple moving average of $86.52. 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 announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 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 firm had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same period last year, the firm posted $0.73 EPS. Charles Schwab's revenue was up 24.8% on a year-over-year basis. As a group, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio is 29.03%.

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.