Crestwood Advisors Group LLC Sells 504,686 Shares of The Charles Schwab Corporation $SCHW

Crestwood Advisors Group LLC lessened its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 78.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 136,242 shares of the financial services provider’s stock after selling 504,686 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Charles Schwab were worth $12,430,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in SCHW. Vanguard Group Inc. boosted its position in Charles Schwab by 15.4% during the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after purchasing an additional 19,817,022 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Charles Schwab by 595.7% during the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after buying an additional 13,262,309 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Charles Schwab by 229.3% during the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after buying an additional 9,749,728 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after buying an additional 8,954,248 shares during the period. Finally, Nuveen LLC bought a new stake in Charles Schwab during the first quarter valued at about $440,699,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SCHW shares. Truist Financial upped their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Insider Transactions at Charles Schwab

In other 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 transaction, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 65,866 shares of company stock valued at $6,370,897. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock opened at $93.84 on Wednesday. The stock has a 50 day moving average of $94.16 and a two-hundred day moving average of $91.59. 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 Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The company has a market capitalization of $170.33 billion, a P/E ratio of 21.98, a P/E/G ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.Charles Schwab’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business earned $0.71 earnings per share. As a group, equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Charles Schwab declared that its board has approved a stock buyback program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are generally a sign 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.