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PFG Investments LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 10.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,951 shares of the financial services provider’s stock after buying an additional 550 shares during the period. PFG Investments LLC’s holdings in Charles Schwab were worth $543,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. purchased a new stake in Charles Schwab during the first quarter worth $25,000. Westside Investment Management Inc. lifted its holdings in Charles Schwab by 75.0% during 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 in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in Charles Schwab by 97.9% during 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 in the last quarter. Stone House Investment Management LLC purchased a new position in Charles Schwab during the first quarter valued at $31,000. Finally, Activest Wealth Management lifted its holdings in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SCHW has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a report on Saturday, September 27th. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, July 21st. JMP Securities increased their price objective on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, BMO Capital Markets assumed coverage on shares of Charles Schwab in a research note on Friday. They issued an “outperform” rating and a $110.00 price target on the stock. Seventeen analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.52.
Check Out Our Latest Research Report on SCHW
Insider Activity
In related news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock valued at $26,232,077 in the last quarter. Insiders own 6.30% of the company’s stock.
Charles Schwab Stock Performance
NYSE:SCHW opened at $94.13 on Friday. The company’s 50-day moving average price is $95.37 and its 200-day moving average price is $88.57. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market cap of $170.87 billion, a P/E ratio of 25.30, a P/E/G ratio of 0.90 and a beta of 0.97. The Charles Schwab Corporation has a twelve month low of $64.07 and a twelve month high of $99.59.
Charles Schwab (NYSE:SCHW – Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping 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 firm 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. Charles Schwab’s revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.
Charles Schwab Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.
Charles Schwab announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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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