The Charles Schwab Corporation $SCHW is Cascade Investment Advisors Inc.’s 5th Largest Position

Cascade Investment Advisors Inc. decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,950 shares of the financial services provider’s stock after selling 1,435 shares during the quarter. Charles Schwab makes up 2.1% of Cascade Investment Advisors Inc.’s holdings, making the stock its 5th largest holding. Cascade Investment Advisors Inc.’s holdings in Charles Schwab were worth $3,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bain Capital Public Equity Management II LLC purchased a new position in Charles Schwab during the 1st quarter valued at about $79,605,000. Independent Advisor Alliance boosted its stake in shares of Charles Schwab by 13.8% during 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Charles Schwab by 6.2% during 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 in the last quarter. PFG Investments LLC raised its stake 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 worth $543,000 after buying an additional 550 shares in the last quarter. Finally, United Services Automobile Association lifted its holdings in Charles Schwab by 14.1% during the first quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock worth $3,074,000 after buying an additional 4,869 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 6,144 shares of the company’s 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 sale, the insider owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the transaction, the insider owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $92.08 on Monday. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. 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 company has a market cap of $167.15 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The company’s 50 day moving average is $94.97 and its 200 day moving average is $89.19.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

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

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Truist Financial set a $112.00 price target on Charles Schwab in a report on Thursday, October 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Bank of America lifted their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average price target of $100.57.

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.