Aspiriant LLC Cuts Holdings in The Charles Schwab Corporation $SCHW

Aspiriant LLC decreased its position in The Charles Schwab Corporation (NYSE:SCHW) by 4.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,806 shares of the financial services provider’s stock after selling 1,126 shares during the period. Aspiriant LLC’s holdings in Charles Schwab were worth $2,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. Westside Investment Management Inc. increased its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in shares of Charles Schwab during the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC increased its stake 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 purchasing an additional 191 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab during the first quarter worth about $31,000. Finally, Activest Wealth Management increased its stake in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 399 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

SCHW opened at $94.17 on Friday. The firm has a market capitalization of $170.93 billion, a PE ratio of 22.05, a PEG ratio of 0.89 and a beta of 0.97. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The firm’s 50-day moving average price is $94.68 and its 200 day moving average price is $89.58. 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 quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. Charles Schwab’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 earnings per share. As a group, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

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

Analysts Set New Price Targets

A number of analysts have recently commented on SCHW shares. The Goldman Sachs Group reissued a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a research note on Friday. Raymond James Financial reissued an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a research note on Friday, July 18th. Bank of America boosted their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. BMO Capital Markets started coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. Finally, Barclays boosted their target price on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $104.70.

Insider Buying and Selling

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the transaction, the insider owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock worth $26,232,077 over the last ninety days. 6.30% of the stock is currently owned by insiders.

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.