The Charles Schwab Corporation $SCHW Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 10.5% during the first quarter, HoldingsChannel.com reports. The fund owned 1,113,927 shares of the financial services provider’s stock after purchasing an additional 106,214 shares during the quarter. Assetmark Inc.’s holdings in Charles Schwab were worth $104,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SCHW. Main Street Group LTD purchased a new stake in shares of Charles Schwab during the first quarter worth approximately $33,000. Angeles Wealth Management LLC boosted its position in shares of Charles Schwab by 10.0% during the 1st quarter. Angeles Wealth Management LLC now owns 11,670 shares of the financial services provider’s stock worth $1,097,000 after purchasing an additional 1,061 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Charles Schwab by 1.2% during the 1st quarter. Bessemer Group Inc. now owns 273,453 shares of the financial services provider’s stock worth $25,698,000 after purchasing an additional 3,262 shares during the period. Gerald Baker Financial Group LLC acquired a new position in shares of Charles Schwab during the 1st quarter worth $394,000. Finally, SteelPeak Wealth LLC increased its holdings in shares of Charles Schwab by 10.6% in the 1st quarter. SteelPeak Wealth LLC now owns 2,924 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SCHW shares. JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Raymond James Financial increased their target price on shares of Charles Schwab from $126.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods initiated coverage on shares of Charles Schwab in a research report on Wednesday, April 8th. They set an “outperform” rating and a $110.00 price target for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. Finally, Barclays lowered their price target on Charles Schwab from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.68.

Charles Schwab Stock Down 0.0%

SCHW stock opened at $102.75 on Friday. The company’s 50 day simple moving average is $92.51 and its 200-day simple moving average is $95.32. The firm has a market capitalization of $178.70 billion, a PE ratio of 20.39, a P/E/G ratio of 0.86 and a beta of 0.77. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $107.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.04. Charles Schwab had a net margin of 37.99% and a return on equity of 23.05%. The business had revenue of $6.48 billion during the quarter, compared to analysts’ expectations of $6.39 billion. During the same period last year, the company posted $1.04 EPS. The company’s revenue was up 15.8% on a year-over-year basis. Equities analysts expect that The Charles Schwab Corporation will post 6.24 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 8th. Charles Schwab’s dividend payout ratio is 25.40%.

Charles Schwab News Roundup

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Analysts have become more upbeat on Schwab’s upcoming Q2 results, with the most accurate earnings estimate now above the consensus ahead of the July 21 report, suggesting a better-than-expected quarter may be possible.
• Positive Sentiment: Coverage around the earnings preview points to stronger trading revenue, higher net interest revenue, and rising asset management fees, all of which could support earnings growth if client activity remains firm.
• Positive Sentiment: A separate valuation-focused article said SCHW still looks reasonably cheap versus its estimated intrinsic value, with some models implying upside if earnings continue to improve.
• Neutral Sentiment: Schwab’s annual RIA survey highlighted that client firms still face organic growth and hiring challenges, which is useful context for the wealth-management backdrop but not a direct near-term catalyst for the stock.
• Neutral Sentiment: One article revisited the company’s Q2 performance expectations and key metrics, keeping focus on the upcoming earnings release rather than introducing a new business development.
• Neutral Sentiment: A Bloomberg piece about the drop in microcap IPOs after regulatory crackdowns reflects a broader market and regulatory trend, but it does not appear to materially affect Schwab’s fundamentals directly.

Insiders Place Their Bets

In other Charles Schwab news, Director Frank C. Herringer sold 2,520 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total transaction of $228,312.00. Following the completion of the transaction, the director owned 177,508 shares of the company’s stock, valued at approximately $16,082,224.80. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the transaction, the insider directly owned 13,738 shares of the company’s stock, valued at approximately $1,373,937.38. This trade represents a 12.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,520 shares of company stock worth $622,392. 6.30% of the stock is owned by insiders.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.