Simplicity Wealth LLC Acquires 6,300 Shares of The Charles Schwab Corporation $SCHW

Simplicity Wealth LLC grew its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 134.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,996 shares of the financial services provider’s stock after acquiring an additional 6,300 shares during the period. Simplicity Wealth LLC’s holdings in Charles Schwab were worth $1,003,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Atwood & Palmer Inc. bought a new position in Charles Schwab in the 1st quarter worth $25,000. Westside Investment Management Inc. grew its holdings in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the period. CBIZ Investment Advisory Services LLC increased its position in 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 buying an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Charles Schwab in the first quarter worth about $31,000. Finally, Activest Wealth Management lifted its position in shares of Charles Schwab by 6,650.0% during the 1st 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 in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $93.98 on Tuesday. The company has a market cap of $170.59 billion, a P/E ratio of 25.26, a P/E/G ratio of 0.91 and a beta of 0.97. The Charles Schwab Corporation has a 52-week low of $64.16 and a 52-week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm’s fifty day moving average is $95.29 and its two-hundred day moving average is $88.82.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter last year, the business posted $0.73 earnings per share. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Charles Schwab Announces Dividend

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

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the company’s 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 directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their position. 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. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on SCHW shares. BMO Capital Markets initiated coverage on shares of Charles Schwab in a research note on Friday. They set an “outperform” rating and a $110.00 target price on the stock. JMP Securities raised their price objective on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research report on Monday, July 21st. Truist Financial set a $112.00 target price on shares of Charles Schwab in a report on Thursday. Barclays increased their price target on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.52.

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.