Three Bridge Wealth Advisors LLC Acquires 1,252 Shares of The Charles Schwab Corporation $SCHW

Three Bridge Wealth Advisors LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 46.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,970 shares of the financial services provider’s stock after purchasing an additional 1,252 shares during the period. Three Bridge Wealth Advisors LLC’s holdings in Charles Schwab were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SCHW. Atwood & Palmer Inc. bought a new stake in Charles Schwab in the first quarter valued at $25,000. Westside Investment Management Inc. increased its holdings 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 grew its holdings in shares of Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after buying an additional 191 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Charles Schwab during the first quarter valued at approximately $31,000. Finally, Activest Wealth Management lifted its position in shares of 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 currently owned by institutional investors.

Analysts Set New Price Targets

SCHW has been the topic of a number of recent analyst reports. Truist Financial set a $112.00 price objective on Charles Schwab in a research note on Thursday. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Bank of America increased their price objective on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday. Raymond James Financial reissued an “outperform” rating and issued a $99.00 target price on shares of Charles Schwab in a research note on Friday, July 18th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research note on Saturday, September 27th. 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.52.

Charles Schwab Stock Performance

Shares of SCHW opened at $94.13 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 company has a 50-day simple moving average of $95.37 and a 200-day simple moving average of $88.64. The Charles Schwab Corporation has a 52-week low of $64.07 and a 52-week high of $99.59. The company has a market capitalization of $170.87 billion, a PE ratio of 25.30, a P/E/G ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the company earned $0.73 EPS. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is currently 29.03%.

Charles Schwab declared that its board has authorized a share repurchase program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to buy 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.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider owned 11,923 shares in the company, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the transaction, the insider directly owned 41,188 shares of the company’s stock, valued at $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock worth $26,232,077 over the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

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.