The Charles Schwab Corporation $SCHW Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. decreased its holdings in The Charles Schwab Corporation by 2.8%, selling 71,441 shares, and now owns about 0.14% of the company valued at $195.15 million.
• The company recently announced a quarterly dividend of $0.27 per share and initiated a stock buyback plan authorizing up to $20 billion in repurchases.
• Charles Schwab's stock has a consensus rating of "Moderate Buy" with an average target price of $99.60, while the company reported an earnings beat with $1.14 EPS for the last quarter.

Raymond James Financial Inc. decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,492,960 shares of the financial services provider's stock after selling 71,441 shares during the quarter. Raymond James Financial Inc. owned about 0.14% of Charles Schwab worth $195,149,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC acquired a new stake in Charles Schwab during the fourth quarter worth $1,455,000. Independent Advisor Alliance boosted its position in shares of 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 buying an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of 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 buying an additional 68,858 shares during the period. Graham Capital Management L.P. boosted its position in shares of Charles Schwab by 248.3% during the fourth quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock worth $8,317,000 after buying an additional 80,112 shares during the period. Finally, World Investment Advisors boosted its position in shares of Charles Schwab by 7.6% during the first quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock worth $12,760,000 after buying an additional 11,505 shares during the period. Institutional investors and hedge funds own 84.38% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Raymond James Financial restated an "outperform" rating and set a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Piper Sandler raised their price target on Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. TD Securities lifted their target price on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Bank of America lifted their target price on Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a report on Monday, July 21st. Finally, William Blair lowered Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $99.60.

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 3,290 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the sale, the insider directly owned 41,188 shares of the company's stock, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business's stock in a transaction dated 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 completion of the sale, the chairman directly owned 590,734 shares of the company's stock, valued at $58,388,148.56. The trade was a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 308,016 shares of company stock worth $29,341,433. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Stock Down 1.8%

Shares of NYSE SCHW opened at $96.03 on Monday. The company has a market capitalization of $174.32 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 0.92 and a beta of 0.96. 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 business has a 50-day moving average of $93.09 and a two-hundred day moving average of $84.92. The Charles Schwab Corporation has a 1 year low of $61.16 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%. The business 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 business earned $0.73 EPS. The business's quarterly revenue was up 24.8% on a year-over-year basis. On average, analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 8th. Charles Schwab's payout ratio is presently 29.03%.

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

Charles Schwab 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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