The Charles Schwab Corporation $SCHW Shares Acquired by Puzo Michael J

Key Points

• Puzo Michael J increased its stake in Charles Schwab by 268.2%, now holding 17,778 shares worth approximately $1.62 million after purchasing an additional 12,950 shares.
• Institutional investors and hedge funds control 84.38% of Charles Schwab's stock, with significant recent investments from firms including Bain Capital and Independent Advisor Alliance.
• Charles Schwab's quarterly earnings exceeded analysts' expectations, reporting $1.14 EPS against a consensus estimate of $1.10, alongside a 24.8% year-over-year revenue increase.

Puzo Michael J lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 268.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,778 shares of the financial services provider's stock after buying an additional 12,950 shares during the quarter. Puzo Michael J's holdings in Charles Schwab were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in SCHW. Bain Capital Public Equity Management II LLC bought a new position in Charles Schwab during the first quarter worth $79,605,000. Independent Advisor Alliance lifted its stake in Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock worth $3,061,000 after purchasing an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Charles Schwab by 6.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock worth $92,493,000 after purchasing an additional 68,858 shares during the last quarter. PFG Investments LLC lifted its stake in Charles Schwab by 10.2% during the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider's stock worth $543,000 after purchasing an additional 550 shares during the last quarter. Finally, United Services Automobile Association lifted its stake in Charles Schwab by 14.1% during the first quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider's stock worth $3,074,000 after purchasing an additional 4,869 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft reduced their price objective on Charles Schwab from $114.00 to $113.00 and set a "buy" rating on the stock in a research note on Tuesday, September 16th. Barclays raised their price objective on Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Raymond James Financial restated an "outperform" rating and set a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Finally, Zacks Research cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. One research 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 issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $100.52.

Insider Activity at Charles Schwab

In other 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 transaction of $4,851,552.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider directly owned 41,188 shares in the company, valued at $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Stock Performance

SCHW stock opened at $93.94 on Wednesday. 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 stock has a market capitalization of $170.53 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 0.91 and a beta of 0.97. The Charles Schwab Corporation has a 1 year low of $64.26 and a 1 year high of $99.59. The stock's fifty day moving average is $95.21 and its two-hundred day moving average is $88.86.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. On average, research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is 29.03%.

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

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.

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