Vest Financial LLC lifted its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 42.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,112 shares of the financial services provider's stock after buying an additional 6,267 shares during the period. Vest Financial LLC's holdings in Charles Schwab were worth $1,926,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Pine Haven Investment Counsel Inc increased its holdings in Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider's stock worth $3,813,000 after acquiring an additional 110 shares in the last quarter. Traveka Wealth LLC increased its holdings in Charles Schwab by 4.3% in the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider's stock worth $259,000 after acquiring an additional 117 shares in the last quarter. Bank of Stockton increased its holdings in Charles Schwab by 1.2% in the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider's stock worth $967,000 after acquiring an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in Charles Schwab by 1.6% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock worth $625,000 after acquiring an additional 129 shares in the last quarter. Finally, HM Payson & Co. increased its holdings in Charles Schwab by 0.7% in the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock worth $1,509,000 after acquiring an additional 130 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 news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm's stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This trade represents a 34.01% 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 valued at $26,232,077. 6.30% of the stock is owned by company insiders.
Charles Schwab Stock Performance
Shares of Charles Schwab stock opened at $93.39 on Wednesday. The firm has a market capitalization of $169.53 billion, a P/E ratio of 25.11, a P/E/G ratio of 0.89 and a beta of 0.97. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. 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 firm's 50 day moving average is $94.83 and its two-hundred day moving average is $89.33.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced 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. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm's revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 earnings per share. Research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.
Charles Schwab declared that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.
Charles Schwab Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab's dividend payout ratio (DPR) is 29.03%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Piper Sandler reissued a "neutral" rating on shares of Charles Schwab in a report on Tuesday. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an "overweight" rating in a research note on Friday, July 18th. Raymond James Financial reaffirmed an "outperform" rating and set a $99.00 target price on shares of Charles Schwab in a research note on Friday, July 18th. Citigroup lifted their target price 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. Finally, William Blair cut shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Charles Schwab currently has an average rating of "Moderate Buy" and a consensus target price of $101.85.
Check Out Our Latest Stock Analysis on Charles Schwab
Charles Schwab Company Profile
(
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.
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