Warther Private Wealth LLC Reduces Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Warther Private Wealth LLC reduced its holdings in The Charles Schwab Corporation by 1.5%, now owning 265,119 shares, which account for approximately 6.3% of its investment portfolio.
• Company insiders, including Chairman Walter W. Bettinger, have significantly sold shares, with Bettinger reducing his position by 22.74% after selling nearly 174,000 shares.
• Charles Schwab reported a quarterly EPS of $1.31, exceeding analyst expectations, and its board has authorized a $20 billion share repurchase plan as a sign of confidence in the company's value.

Warther Private Wealth LLC reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,119 shares of the financial services provider's stock after selling 3,941 shares during the quarter. Charles Schwab accounts for approximately 6.3% of Warther Private Wealth LLC's investment portfolio, making the stock its 9th biggest holding. Warther Private Wealth LLC's holdings in Charles Schwab were worth $24,189,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC bought a new stake in Charles Schwab during the second quarter worth $25,000. Westside Investment Management Inc. raised 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 purchasing an additional 150 shares during the period. RMG Wealth Management LLC bought a new position in shares of Charles Schwab in the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised 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 purchasing an additional 191 shares during the period. Finally, Stone House Investment Management LLC bought a new position in shares of Charles Schwab in the first quarter valued at about $31,000. 84.38% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the firm's stock in a transaction that occurred on 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 sale, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 267,128 shares of company stock valued at $26,232,077. Company insiders own 6.30% of the company's stock.

Charles Schwab Trading Down 0.9%

Shares of Charles Schwab stock opened at $94.24 on Thursday. The company has a market capitalization of $171.06 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 0.85 and a beta of 0.97. 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 $65.88 and a 12-month high of $99.59. The firm's 50-day moving average price is $94.53 and its two-hundred day moving average price is $90.01.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.06. The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business's revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. On average, analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its board has authorized 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 repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SCHW. 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 research report on Monday, July 21st. The Goldman Sachs Group reissued a "buy" rating and issued a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. Barclays increased their price objective on shares of Charles Schwab from $114.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Finally, BMO Capital Markets began coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They set an "outperform" rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.00.

About Charles Schwab

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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