Bruce G. Allen Investments LLC Cuts Stake in The Charles Schwab Corporation $SCHW

Bruce G. Allen Investments LLC reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 26.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,343 shares of the financial services provider’s stock after selling 841 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Charles Schwab were worth $214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bain Capital Public Equity Management II LLC bought a new position in shares of Charles Schwab during the 1st quarter valued at approximately $79,605,000. Independent Advisor Alliance boosted its position in shares of Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after acquiring an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after acquiring an additional 68,858 shares during the last quarter. United Services Automobile Association boosted its position in shares of Charles Schwab by 14.1% during the 1st quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock valued at $3,074,000 after acquiring an additional 4,869 shares during the last quarter. Finally, World Investment Advisors boosted its position in shares of Charles Schwab by 7.6% during the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider’s stock valued at $12,760,000 after acquiring an additional 11,505 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SCHW has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their target price on Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday. William Blair downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Citigroup raised their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Bank of America raised their price target on Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a research report on Monday, July 21st. Finally, Keefe, Bruyette & Woods raised their price target on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Sixteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Charles Schwab Stock Down 1.2%

NYSE:SCHW opened at $90.99 on Wednesday. The Charles Schwab Corporation has a twelve month low of $62.41 and a twelve month high of $99.59. The company has a market cap of $165.17 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The stock has a fifty day simple moving average of $95.38 and a 200-day simple moving average of $86.99. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its 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. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. Analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company 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. The ex-dividend date 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 approved a stock repurchase plan on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at approximately $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,213 shares of company stock valued at $26,232,180. Company insiders own 6.30% of the company’s stock.

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.