Birch Capital Management LLC Buys 416 Shares of The Charles Schwab Corporation $SCHW

Birch Capital Management LLC raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 73,153 shares of the financial services provider’s stock after buying an additional 416 shares during the period. Charles Schwab comprises approximately 3.4% of Birch Capital Management LLC’s holdings, making the stock its 9th largest position. Birch Capital Management LLC’s holdings in Charles Schwab were worth $6,674,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SCHW. Westside Investment Management Inc. increased its stake 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 buying an additional 150 shares during the period. RMG Wealth Management LLC acquired a new position in Charles Schwab during the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its stake 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 buying an additional 191 shares during the period. Stone House Investment Management LLC acquired a new position in Charles Schwab during the 1st quarter valued at about $31,000. Finally, Activest Wealth Management increased its stake 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 buying an additional 399 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In related news, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 27th. The shares were 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 90 days, insiders have sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Piper Sandler raised their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Citigroup raised their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Barclays restated an “overweight” rating and set a $114.00 price objective on shares of Charles Schwab in a research report on Wednesday. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. Finally, JMP Securities raised their price objective on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research report on Monday, July 21st. One 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Charles Schwab Price Performance

Shares of SCHW opened at $94.01 on Friday. The firm has a market cap of $170.65 billion, a PE ratio of 25.27, a PEG ratio of 0.91 and a beta of 0.97. The firm’s 50 day moving average price is $95.04 and its 200 day moving average price is $88.99. 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 twelve month low of $65.88 and a twelve month high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data 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. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. As a group, research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

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

Charles Schwab Dividend Announcement

The firm 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 of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

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.