The Charles Schwab Corporation $SCHW Shares Sold by Sendero Wealth Management LLC

Sendero Wealth Management LLC decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 24.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,320 shares of the financial services provider's stock after selling 29,465 shares during the period. Charles Schwab comprises approximately 1.0% of Sendero Wealth Management LLC's investment portfolio, making the stock its 19th largest holding. Sendero Wealth Management LLC's holdings in Charles Schwab were worth $8,150,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. purchased a new position in Charles Schwab in the 1st quarter valued at about $25,000. Westside Investment Management Inc. lifted its position in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Charles Schwab in the first quarter worth approximately $31,000. Finally, Activest Wealth Management increased its position in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after purchasing an additional 399 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the sale, the insider owned 41,188 shares of the company's stock, valued at approximately $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,128 shares of company stock worth $26,232,077. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of research reports. Zacks Research lowered Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Barclays increased their target price on shares of Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Weiss Ratings reissued a "hold (c+)" rating on shares of Charles Schwab in a research note on Saturday, September 27th. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Finally, Citigroup increased their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $100.52.

Charles Schwab Price Performance

Shares of SCHW stock opened at $94.13 on Monday. 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 market capitalization of $170.87 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The firm's 50-day moving average is $95.37 and its two-hundred day moving average is $88.71. The Charles Schwab Corporation has a 12 month low of $64.07 and a 12 month high of $99.59.

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

Charles Schwab declared that its board has initiated a stock buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders 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 dividend on an annualized basis and a yield of 1.1%. Charles Schwab's payout ratio is currently 29.03%.

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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