Lodestar Private Asset Management LLC Sells 354 Shares of The Charles Schwab Corporation $SCHW

Lodestar Private Asset Management LLC lowered its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,250 shares of the financial services provider’s stock after selling 354 shares during the quarter. Lodestar Private Asset Management LLC’s holdings in Charles Schwab were worth $297,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bain Capital Public Equity Management II LLC bought a new stake in shares of Charles Schwab during the first quarter worth $79,605,000. Independent Advisor Alliance increased its holdings in Charles Schwab by 13.8% in the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after purchasing an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Charles Schwab by 6.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after purchasing an additional 68,858 shares during the last quarter. PFG Investments LLC increased its holdings in Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 550 shares during the last quarter. Finally, United Services Automobile Association increased its holdings in Charles Schwab by 14.1% in the first quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock valued at $3,074,000 after purchasing an additional 4,869 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 2.1%

NYSE:SCHW opened at $92.08 on Monday. 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 stock has a market cap of $167.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.89 and a beta of 0.97. The stock has a 50-day moving average price of $94.97 and a two-hundred day moving average price of $89.19. 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 posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. As a group, equities analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given 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 of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is currently 29.03%.

Charles Schwab announced that its board has initiated a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays reiterated an “overweight” rating and issued a $114.00 price objective on shares of Charles Schwab in a report on Wednesday. Citigroup upped their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. William Blair downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Truist Financial set a $112.00 price objective on Charles Schwab in a report on Thursday, October 2nd. Finally, Morgan Stanley dropped their price objective on Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.57.

Insider Activity at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider directly owned 41,188 shares of the company’s stock, valued at $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock valued at $26,232,077 over the last ninety days. Company insiders own 6.30% of the company’s stock.

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.