Envestnet Portfolio Solutions Inc. lowered its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 27.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,775 shares of the financial services provider's stock after selling 39,225 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Charles Schwab were worth $9,286,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in SCHW. Vanguard Personalized Indexing Management LLC lifted its stake in Charles Schwab by 26.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider's stock worth $17,387,000 after acquiring an additional 40,275 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new position in Charles Schwab in the first quarter worth approximately $79,605,000. Independent Advisor Alliance lifted its stake in Charles Schwab by 13.8% in the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock worth $3,061,000 after acquiring an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Charles Schwab by 6.2% in 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 acquiring an additional 68,858 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider's stock worth $543,000 after acquiring an additional 550 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.
Charles Schwab Stock Up 1.7%
Shares of NYSE:SCHW opened at $93.50 on Tuesday. The firm has a 50 day simple moving average of $94.90 and a 200-day simple moving average of $89.30. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The company has a market capitalization of $169.72 billion, a PE ratio of 25.13, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.
Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $5.64 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. Charles Schwab's revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.
Charles Schwab Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab's dividend payout ratio is 29.03%.
Charles Schwab declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.
Analyst Ratings Changes
SCHW has been the subject of a number of recent research reports. Truist Financial set a $112.00 price target on shares of Charles Schwab in a research note on Thursday, October 2nd. Morgan Stanley decreased their price target on shares of Charles Schwab to $130.00 and set an "overweight" rating for the company in a research note on Wednesday, October 1st. Raymond James Financial restated an "outperform" rating and set a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. William Blair downgraded shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Charles Schwab from $114.00 to $113.00 and set a "buy" rating for the company in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $100.57.
Read Our Latest Stock Report on SCHW
Insider Transactions at Charles Schwab
In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares of the company's stock, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock worth $26,232,077 over the last 90 days. Company insiders own 6.30% of the company's stock.
About Charles Schwab
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Charles Schwab, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Charles Schwab wasn't on the list.
While Charles Schwab currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
