Vigilare Wealth Management Buys Shares of 10,024 The Charles Schwab Corporation $SCHW

Key Points

• Vigilare Wealth Management has acquired 10,024 shares of The Charles Schwab Corporation valued at approximately $915,000, indicating growing institutional interest in the company.
• Charles Schwab's recent earnings report showed a strong performance with $1.14 earnings per share and a revenue of $5.85 billion, surpassing market expectations.
• The company has initiated a $20 billion share repurchase plan, suggesting its board believes the shares are undervalued.

Vigilare Wealth Management purchased a new position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,024 shares of the financial services provider's stock, valued at approximately $915,000.

Several other institutional investors have also added to or reduced their stakes in SCHW. Vanguard Group Inc. raised its stake in Charles Schwab by 15.4% in the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock worth $11,616,380,000 after acquiring an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP raised its stake in Charles Schwab by 595.7% in the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider's stock worth $1,212,461,000 after acquiring an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA raised its stake in Charles Schwab by 229.3% in the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider's stock worth $1,096,083,000 after acquiring an additional 9,749,728 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Charles Schwab by 12.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider's stock worth $6,422,795,000 after acquiring an additional 8,954,248 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Charles Schwab in the 1st quarter worth $440,699,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Stock Down 1.5%

Shares of NYSE:SCHW opened at $95.45 on Wednesday. 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 business has a fifty day moving average of $95.56 and a two-hundred day moving average of $88.33. The stock has a market cap of $173.26 billion, a P/E ratio of 25.66, a PEG ratio of 0.96 and a beta of 0.96. The Charles Schwab Corporation has a 52-week low of $62.41 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results 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 company had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm's quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 EPS. On average, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued 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 1.1%. Charles Schwab's dividend payout ratio is currently 29.03%.

Charles Schwab announced that its board has initiated a share repurchase 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

SCHW has been the topic of several recent research reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Redburn Atlantic raised shares of 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 report on Monday, June 9th. Barclays upped their price objective on shares of Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Morgan Stanley boosted their price target on Charles Schwab from $117.00 to $131.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Sixteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab has an average rating of "Moderate Buy" and an average price target of $100.00.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the transaction, the insider directly owned 41,188 shares in the company, valued at approximately $3,956,519.28. This represents a 7.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 263,923 shares of company stock worth $25,932,955. Insiders own 6.30% of the company's stock.

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.

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.