SeaBridge Investment Advisors LLC Has $316,000 Holdings in The Charles Schwab Corporation $SCHW

SeaBridge Investment Advisors LLC decreased its position in The Charles Schwab Corporation (NYSE:SCHW) by 4.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,465 shares of the financial services provider’s stock after selling 170 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Charles Schwab were worth $316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Charles Schwab by 595.7% during the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after purchasing an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Charles Schwab by 229.3% during the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after purchasing an additional 9,749,728 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Charles Schwab during the 1st quarter worth approximately $440,699,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related news, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total value of $305,116.00. Following the completion of the sale, the insider directly owned 37,983 shares in the company, valued at $3,615,981.60. This trade represents a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,213 shares of company stock worth $26,232,180 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Performance

SCHW opened at $95.52 on Friday. The business has a fifty day simple moving average of $95.55 and a 200 day simple moving average of $88.04. The company has a market capitalization of $173.39 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96. The Charles Schwab Corporation has a 1 year low of $62.41 and a 1 year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

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, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 EPS. Research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its board has approved a stock repurchase plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Charles Schwab Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently commented on SCHW shares. Morgan Stanley lifted their target price on Charles Schwab from $117.00 to $131.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Truist Financial lifted their target price on Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. JMP Securities lifted their target price on Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Sixteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $100.00.

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.