Aaron Wealth Advisors LLC Increases Position in The Charles Schwab Corporation $SCHW

Aaron Wealth Advisors LLC increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,814 shares of the financial services provider’s stock after purchasing an additional 1,381 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Charles Schwab were worth $1,717,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SCHW. Atwood & Palmer Inc. purchased a new position in Charles Schwab during the 1st quarter valued at about $25,000. Westside Investment Management Inc. increased its holdings in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Charles Schwab during the 1st quarter valued at about $31,000. Finally, Activest Wealth Management increased its holdings in Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Bank of America lifted their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a report on Monday, July 21st. Keefe, Bruyette & Woods lifted their price target 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. Piper Sandler lifted their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Finally, Citigroup lifted their price target 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. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $100.00.

Charles Schwab Price Performance

SCHW opened at $90.99 on Wednesday. The company’s 50 day simple moving average is $95.38 and its 200 day simple moving average is $86.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a 1 year low of $62.41 and a 1 year high of $99.59. The stock has a market capitalization of $165.17 billion, a PE ratio of 24.46, a P/E/G ratio of 0.91 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its earnings results 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 business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the company earned $0.73 earnings per share. The company’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given 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 1.2%. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

Charles Schwab declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related 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 of the company’s stock, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction that occurred on 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. In the last three months, insiders sold 267,213 shares of company stock valued at $26,232,180. 6.30% of the stock is currently owned by corporate insiders.

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.