The Charles Schwab Corporation $SCHW Shares Acquired by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its stake in The Charles Schwab Corporation by 16.5% during the 2nd quarter, owning 24,071 shares valued at approximately $2.2 million.
• Analysts have issued a mix of ratings for Charles Schwab, with one "Strong Buy," sixteen "Buy," five "Hold," and two "Sell" ratings.
• Charles Schwab reported quarterly earnings of $1.31 per share, exceeding expectations and reflecting a 26.6% year-over-year revenue increase to $6.14 billion.

Ritholtz Wealth Management boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,071 shares of the financial services provider's stock after purchasing an additional 3,409 shares during the period. Ritholtz Wealth Management's holdings in Charles Schwab were worth $2,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc boosted its holdings in shares of Charles Schwab by 0.3% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider's stock worth $3,813,000 after buying an additional 110 shares during the period. Traveka Wealth LLC boosted its holdings in shares of Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider's stock worth $259,000 after buying an additional 117 shares during the period. Bank of Stockton boosted its holdings in shares of Charles Schwab by 1.2% during the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider's stock worth $967,000 after buying an additional 123 shares during the period. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Charles Schwab by 1.6% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock worth $625,000 after buying an additional 129 shares during the period. Finally, HM Payson & Co. boosted its holdings in shares of Charles Schwab by 0.7% during the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock worth $1,509,000 after buying an additional 130 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SCHW shares. Barclays reissued an "overweight" rating and issued a $114.00 price target on shares of Charles Schwab in a report on Wednesday, October 8th. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an "overweight" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods increased their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Weiss Ratings reissued a "hold (c+)" rating on shares of Charles Schwab in a report on Wednesday, October 8th. Finally, William Blair downgraded shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.85.

Charles Schwab Trading Down 1.0%

Shares of SCHW stock opened at $93.38 on Friday. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The stock has a market cap of $169.51 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 0.89 and a beta of 0.97. 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 firm has a fifty day moving average of $94.74 and a 200-day moving average of $89.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company had revenue of $6.14 billion during the quarter, compared to analysts' expectations of $5.93 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The business's revenue was up 26.6% on a year-over-year basis. On average, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

Charles Schwab announced that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction dated Tuesday, July 29th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 over the last ninety days. Company insiders own 6.30% of the company's stock.

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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