Wilmington Savings Fund Society FSB Sells 3,595 Shares of The Charles Schwab Corporation $SCHW

Wilmington Savings Fund Society FSB trimmed its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,833 shares of the financial services provider's stock after selling 3,595 shares during the period. Wilmington Savings Fund Society FSB's holdings in Charles Schwab were worth $6,737,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of 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 valued at $11,616,380,000 after acquiring an additional 19,817,022 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of 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 valued at $6,422,795,000 after acquiring an additional 8,954,248 shares during the period. Northern Trust Corp raised its position in shares of Charles Schwab by 10.8% in the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider's stock valued at $1,365,227,000 after acquiring an additional 1,700,384 shares during the period. Alliancebernstein L.P. raised its position in shares of Charles Schwab by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider's stock valued at $1,339,822,000 after acquiring an additional 2,355,309 shares during the period. Finally, Invesco Ltd. raised its position in shares of Charles Schwab by 5.0% in the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider's stock valued at $1,220,107,000 after acquiring an additional 743,906 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares of the company's stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $17,185,903.84. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

Shares of SCHW opened at $93.39 on Wednesday. The stock 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 twelve month low of $65.88 and a twelve month high of $99.59. The company has a 50 day moving average of $94.83 and a 200-day moving average of $89.33. 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 issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping 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 net margin of 33.68% and a return on equity of 19.30%. The business's quarterly revenue was up 24.8% on a year-over-year basis. During the same period last year, the business earned $0.73 EPS. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has authorized a stock repurchase plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SCHW. Barclays reiterated an "overweight" rating and issued a $114.00 price target on shares of Charles Schwab in a research report on Wednesday, October 8th. William Blair cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an "overweight" rating in a research note on Friday, July 18th. JMP Securities increased their target price on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a research note on Monday, July 21st. Finally, Raymond James Financial reissued an "outperform" rating and set a $99.00 target price on shares of Charles Schwab in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.85.

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.

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