Forum Financial Management LP Has $1.77 Million Stake in The Charles Schwab Corporation $SCHW

Forum Financial Management LP raised its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 8.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 19,342 shares of the financial services provider’s stock after acquiring an additional 1,582 shares during the quarter. Forum Financial Management LP’s holdings in Charles Schwab were worth $1,765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at $25,000. Westside Investment Management Inc. increased its stake in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares during the last quarter. RMG Wealth Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth about $27,000. CBIZ Investment Advisory Services LLC increased its stake in shares of 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 worth $30,000 after purchasing an additional 191 shares during the last quarter. Finally, Stone House Investment Management LLC acquired a new position in shares of Charles Schwab during the 1st quarter worth about $31,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at $1,154,265.63. The trade was a 34.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider directly owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 267,128 shares of company stock worth $26,232,077. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $94.24 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $171.06 billion, a P/E ratio of 22.07, a P/E/G ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The firm has a 50-day moving average price of $94.53 and a two-hundred day moving average price of $90.01.

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

Charles Schwab announced that its Board of Directors has authorized a share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Morgan Stanley lowered their price objective on shares of Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. The Goldman Sachs Group restated a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an “overweight” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.00.

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.