The Charles Schwab Corporation $SCHW is CORDA Investment Management LLC.'s 4th Largest Position

Key Points

• CORDA Investment Management LLC decreased its holdings in The Charles Schwab Corporation by 2.0%, making it the fund's 4th largest position, valued at approximately $54.44 million.
• Charles Schwab reported quarterly earnings of $1.31 EPS, exceeding estimates, with substantial revenue growth of 26.6% year-over-year.
• Analysts have varied outlooks on the stock, with price targets ranging from $104.70, where the consensus rating is classified as a "Moderate Buy."

CORDA Investment Management LLC. trimmed its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 596,666 shares of the financial services provider's stock after selling 11,940 shares during the period. Charles Schwab accounts for approximately 4.0% of CORDA Investment Management LLC.'s holdings, making the stock its 4th largest holding. CORDA Investment Management LLC.'s holdings in Charles Schwab were worth $54,440,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. RMG Wealth Management LLC purchased a new stake in Charles Schwab during the 2nd quarter worth $27,000. Westside Investment Management Inc. grew its stake 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 purchasing an additional 150 shares in the last quarter. Hoese & Co LLP increased its stake in Charles Schwab by 131.6% during the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider's stock valued at $32,000 after buying an additional 200 shares during the period. CBIZ Investment Advisory Services LLC lifted its stake in shares of Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock worth $30,000 after acquiring an additional 191 shares during the period. Finally, Stone House Investment Management LLC acquired a new position in shares of Charles Schwab during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the company's stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,205 shares of the business'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 in the company, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is owned by insiders.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $94.17 on Monday. 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 one year low of $65.88 and a one year high of $99.59. The stock has a 50-day moving average of $94.68 and a 200-day moving average of $89.76. The stock has a market cap of $170.93 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company's quarterly revenue was up 26.6% compared to the same quarter last year. As a group, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio is 25.29%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. TD Cowen boosted their price objective on Charles Schwab from $129.00 to $134.00 and gave the stock a "buy" rating in a report on Friday. Morgan Stanley reduced their price target on shares of Charles Schwab to $130.00 and set an "overweight" rating for the company in a research report on Wednesday, October 1st. Truist Financial boosted their target price on Charles Schwab from $112.00 to $113.00 and gave the company a "buy" rating in a research note on Friday. Piper Sandler reiterated a "neutral" rating on shares of Charles Schwab in a report on Tuesday, October 14th. Finally, William Blair downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Charles Schwab presently has an average rating of "Moderate Buy" and a consensus target price of $104.70.

About Charles Schwab

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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