Ibex Wealth Advisors Takes Position in The Charles Schwab Corporation $SCHW

Ibex Wealth Advisors bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 48,780 shares of the financial services provider’s stock, valued at approximately $4,451,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab in the second quarter valued at approximately $25,000. RMG Wealth Management LLC acquired a new stake in Charles Schwab during the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC boosted its stake in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 191 shares during the period. Stone House Investment Management LLC acquired a new position in Charles Schwab in the 1st quarter valued at $31,000. Finally, Activest Wealth Management increased its position 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 worth $32,000 after buying an additional 399 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. Citigroup lifted their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Morgan Stanley increased their target price on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Stock Performance

NYSE SCHW opened at $95.33 on Monday. The firm’s 50 day simple moving average is $94.03 and its 200 day simple moving average is $91.96. The firm has a market capitalization of $173.05 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 0.85 and a beta of 1.02. 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 1 year low of $65.88 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. The business had revenue of $6.38 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 company’s revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. As a group, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

Charles Schwab declared that its Board of Directors has initiated a stock repurchase 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 purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of the 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 transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,866 shares of company stock valued at $6,370,897 over the last ninety days. 6.30% of the stock is owned by corporate insiders.

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.