The Charles Schwab Corporation $SCHW Stake Cut by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC cut its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 81.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,255 shares of the financial services provider’s stock after selling 28,391 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Charles Schwab were worth $571,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SCHW. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at about $25,000. RMG Wealth Management LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of 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 buying an additional 191 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Charles Schwab in the 1st quarter valued at about $31,000. Finally, Activest Wealth Management lifted its stake 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. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. TD Cowen raised their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. Finally, Bank of America raised their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Insider Buying and Selling

In related news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,866 shares of company stock valued at $6,370,897 over the last three months. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $93.84 on Wednesday. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The firm’s 50-day simple moving average is $94.16 and its 200 day simple moving average is $91.59. 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 $170.33 billion, a P/E ratio of 21.98, a P/E/G ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the previous year, the business earned $0.71 earnings per share. The company’s revenue was up 26.6% on a year-over-year basis. Equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab declared that its board has initiated a share 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 repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.