Tradition Wealth Management LLC Purchases Shares of 3,014 The Charles Schwab Corporation $SCHW

Key Points

• Tradition Wealth Management LLC has acquired a new stake in The Charles Schwab Corporation, purchasing 3,014 shares valued at approximately $236,000 during the 1st quarter.
• Institutional investors collectively own 84.38% of Charles Schwab's stock, with notable increases in holdings from Vanguard Group, Wellington Management Group, and Primecap Management Co.
• Charles Schwab's latest earnings report showed an EPS of $1.14, exceeding estimates, alongside a 24.8% increase in revenue compared to the same quarter last year.

Tradition Wealth Management LLC bought a new position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,014 shares of the financial services provider's stock, valued at approximately $236,000.

Several other hedge funds have also recently modified their holdings of SCHW. Atwood & Palmer Inc. purchased a new position in shares of Charles Schwab in the first quarter worth $25,000. Westside Investment Management Inc. raised its stake 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 worth $27,000 after purchasing an additional 150 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of Charles Schwab in the first quarter worth $31,000. WFA Asset Management Corp purchased a new position in shares of Charles Schwab in the first quarter worth $33,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Charles Schwab by 90.5% in the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock worth $36,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Price Performance

NYSE SCHW traded down $0.1690 during trading on Friday, hitting $95.6510. 12,859,422 shares of the stock traded hands, compared to its average volume of 8,160,454. The company has a market capitalization of $173.63 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96. The firm has a 50-day simple moving average of $93.85 and a 200-day simple moving average of $85.37. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 12-month low of $61.16 and a 12-month high of $99.59.

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

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid 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 of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

Charles Schwab announced that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and upped their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. TD Securities upped their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Citigroup upped their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 21st. JMP Securities upped their price target 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. Finally, Cowen restated a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Charles Schwab has an average rating of "Moderate Buy" and a consensus price target of $99.60.

Insider Activity

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the business's stock in a transaction on 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 transaction, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. The trade was a 22.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,290 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at approximately $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 250,340 shares of company stock worth $24,250,303 in the last three months. Corporate insiders own 6.30% of the company's stock.

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.