The Charles Schwab Corporation $SCHW Shares Sold by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC reduced its stake in The Charles Schwab Corporation by 11.8%, selling 23,812 shares to own 177,527 shares valued at approximately $13.9 million.
• Several large institutional investors increased their positions in Charles Schwab, with Vanguard Group boosting its shares by 15.4% and Wellington Management raising theirs by an impressive 595.7%.
• Charles Schwab reported earnings of $1.14 per share, exceeding analysts’ expectations, and announced a quarterly dividend of $0.27 per share, representing a 1.1% dividend yield.

Curi RMB Capital LLC trimmed its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 177,527 shares of the financial services provider's stock after selling 23,812 shares during the quarter. Curi RMB Capital LLC's holdings in Charles Schwab were worth $13,897,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Charles Schwab by 15.4% in the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock worth $11,616,380,000 after buying an additional 19,817,022 shares in the last quarter. Wellington Management Group LLP raised its position in Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider's stock worth $1,212,461,000 after acquiring an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Charles Schwab by 229.3% in the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider's stock valued at $1,096,083,000 after purchasing an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider's stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Charles Schwab during the 1st quarter worth approximately $440,699,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SCHW shares. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Barclays upped their price objective on Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. JMP Securities lifted their price objective on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a research report on Monday, July 21st. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, Citigroup raised their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $99.60.

Charles Schwab Trading Down 0.1%

NYSE SCHW opened at $96.06 on Thursday. The company has a market cap of $174.36 billion, a P/E ratio of 25.82, a P/E/G ratio of 0.94 and a beta of 0.96. The Charles Schwab Corporation has a 12 month low of $61.16 and a 12 month high of $99.59. 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 company has a 50-day moving average of $94.99 and a 200-day moving average of $86.13.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $5.64 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. Charles Schwab's revenue was up 24.8% compared to the same quarter last year. As a group, equities analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed 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 was Friday, August 8th. Charles Schwab's dividend payout ratio is presently 29.03%.

Charles Schwab declared that its board has approved a stock buyback 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 buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 10,129 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the sale, the insider directly owned 39,154 shares of the company's stock, valued at approximately $3,524,251.54. This trade represents a 20.55% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 298,214 shares of company stock worth $29,022,580. Corporate 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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