WCG Wealth Advisors LLC Has $6.30 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Key Points

• WCG Wealth Advisors LLC reduced its holdings in The Charles Schwab Corporation by 5.2%, now owning 80,468 shares worth approximately $6.30 million.
• Recent insider sales included Nigel J. Murtagh selling 24,096 shares and Chairman Walter W. Bettinger selling 173,876 shares, indicating a decrease in their positions by 29% and 22.74%, respectively.
• Charles Schwab's board initiated a $20 billion stock repurchase plan, allowing the buyback of up to 11.6% of its shares, suggesting a belief that the stock is undervalued.

WCG Wealth Advisors LLC lessened its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 5.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 80,468 shares of the financial services provider's stock after selling 4,379 shares during the period. WCG Wealth Advisors LLC's holdings in Charles Schwab were worth $6,299,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Financial LLC acquired a new stake in shares of Charles Schwab in the 4th quarter valued at approximately $1,455,000. Independent Advisor Alliance raised its holdings in Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider's stock worth $3,061,000 after buying an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock worth $92,493,000 after buying an additional 68,858 shares during the period. Graham Capital Management L.P. raised its holdings in Charles Schwab by 248.3% during the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock worth $8,317,000 after buying an additional 80,112 shares during the period. Finally, World Investment Advisors raised its holdings in Charles Schwab by 7.6% during the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock worth $12,760,000 after buying an additional 11,505 shares during the period. Institutional investors and hedge funds own 84.38% of the company's stock.

Insiders Place Their Bets

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares of the company's stock, valued at $5,776,592.09. This trade represents a 29.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm's stock in a transaction 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 of the company's stock, valued at $58,388,148.56. This represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,340 shares of company stock valued at $24,250,303 in the last ninety days. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several research analyst reports. Cowen restated a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an "overweight" rating in a report on Friday, July 18th. Citigroup raised their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Barclays raised their target price on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Sixteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $99.60.

Charles Schwab Price Performance

Shares of SCHW opened at $95.6510 on Monday. The stock has a market capitalization of $173.63 billion, a P/E ratio of 25.71, a P/E/G ratio of 0.94 and a beta of 0.96. The Charles Schwab Corporation has a twelve month low of $61.16 and a twelve month high of $99.59. The company has a 50 day moving average of $93.85 and a 200-day moving average of $85.38. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

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

Charles Schwab announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

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.

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.