Focus Partners Wealth Boosts Position in The Charles Schwab Corporation $SCHW

Focus Partners Wealth lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 75.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 201,397 shares of the financial services provider’s stock after acquiring an additional 86,820 shares during the period. Focus Partners Wealth’s holdings in Charles Schwab were worth $15,766,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab during the 1st quarter worth about $25,000. Westside Investment Management Inc. grew its position in shares of Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in Charles Schwab during the first quarter worth approximately $31,000. Activest Wealth Management lifted its stake in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 399 shares during the last quarter. Finally, WFA Asset Management Corp purchased a new stake in Charles Schwab during the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares in the company, valued at $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total value of $305,116.00. Following the sale, the insider owned 37,983 shares of the company’s stock, valued at $3,615,981.60. This trade represents a 7.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 298,214 shares of company stock valued at $29,022,580. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $93.50 on Friday. 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 twelve month low of $61.81 and a twelve month high of $99.59. The stock has a 50 day moving average of $95.41 and a two-hundred day moving average of $86.76. The stock has a market cap of $169.72 billion, a P/E ratio of 25.13, a P/E/G ratio of 0.93 and a beta of 0.96.

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 analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab announced 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

The business 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. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio is 29.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Barclays boosted their target price on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Truist Financial boosted their target price on Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Piper Sandler boosted their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an “overweight” rating in a research note on Friday, July 18th. Finally, Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.60.

Charles Schwab Company 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.