Keyvantage Wealth LLC Has $482,000 Holdings in The Charles Schwab Corporation $SCHW

Keyvantage Wealth LLC grew its position in The Charles Schwab Corporation (NYSE:SCHW) by 12.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,285 shares of the financial services provider’s stock after purchasing an additional 577 shares during the period. Keyvantage Wealth LLC’s holdings in Charles Schwab were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SCHW. MJP Associates Inc. ADV boosted its stake in Charles Schwab by 164.1% in the 2nd quarter. MJP Associates Inc. ADV now owns 7,098 shares of the financial services provider’s stock valued at $648,000 after purchasing an additional 4,410 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Charles Schwab by 7.4% during the second quarter. Cetera Investment Advisers now owns 428,463 shares of the financial services provider’s stock worth $39,093,000 after buying an additional 29,339 shares in the last quarter. Fusion Capital LLC boosted its position in shares of Charles Schwab by 6.0% in the second quarter. Fusion Capital LLC now owns 14,994 shares of the financial services provider’s stock valued at $1,368,000 after acquiring an additional 847 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Charles Schwab by 7.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 418,885 shares of the financial services provider’s stock valued at $38,219,000 after acquiring an additional 29,177 shares during the period. Finally, Wrapmanager Inc. acquired a new position in shares of Charles Schwab in the second quarter valued at about $509,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SCHW. The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Barclays lifted their price objective on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued 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 a consensus target price of $106.45.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 68,938 shares of company stock worth $6,671,953. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

Charles Schwab stock opened at $94.37 on Friday. 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 stock has a market cap of $167.70 billion, a PE ratio of 22.10, a P/E/G ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The business’s 50-day moving average price is $94.06 and its two-hundred day moving average price is $92.35.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.06. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm’s revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. As a group, analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is 25.29%.

Charles Schwab declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally an indication 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.