The Charles Schwab Corporation $SCHW Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp decreased its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 33.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 480,288 shares of the financial services provider’s stock after selling 242,283 shares during the quarter. Charles Schwab makes up 2.5% of AMI Asset Management Corp’s portfolio, making the stock its 19th biggest position. AMI Asset Management Corp’s holdings in Charles Schwab were worth $43,821,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SCHW. Atwood & Palmer Inc. acquired a new position in shares of Charles Schwab in the first quarter worth about $25,000. Westside Investment Management Inc. lifted its stake in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Charles Schwab in the first quarter valued at about $31,000. Finally, Activest Wealth Management increased its holdings in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman directly owned 590,734 shares of the company’s stock, valued at $58,388,148.56. This represents a 22.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,923 shares of company stock worth $25,932,955. 6.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday. JMP Securities boosted their price objective on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. Piper Sandler boosted their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Barclays boosted their price objective on Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Finally, Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $65.00 to $82.00 in a report on Monday, June 9th. Sixteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average target price of $99.95.

Charles Schwab Stock Down 3.4%

NYSE:SCHW opened at $92.22 on Thursday. The firm has a market capitalization of $167.39 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 0.94 and a beta of 0.97. The stock has a 50 day moving average of $95.50 and a 200-day moving average of $88.36. The Charles Schwab Corporation has a 52 week low of $62.41 and a 52 week 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.

Charles Schwab (NYSE:SCHW) last posted its earnings results 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 company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 earnings per share. Analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is 29.03%.

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.