The Charles Schwab Corporation $SCHW Stake Reduced by Uhlmann Price Securities LLC

Uhlmann Price Securities LLC cut its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 15.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 10,732 shares of the financial services provider’s stock after selling 2,026 shares during the quarter. Uhlmann Price Securities LLC’s holdings in Charles Schwab were worth $979,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in 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 worth $11,616,380,000 after acquiring an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Charles Schwab by 12.3% in the first 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 acquiring an additional 8,954,248 shares in the last quarter. Northern Trust Corp raised its holdings in Charles Schwab by 10.8% during the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock worth $1,365,227,000 after buying an additional 1,700,384 shares during the period. Alliancebernstein L.P. raised its holdings in Charles Schwab by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock worth $1,339,822,000 after buying an additional 2,355,309 shares during the period. Finally, Invesco Ltd. raised its holdings in Charles Schwab by 5.0% during the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock worth $1,220,107,000 after buying an additional 743,906 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SCHW has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Raymond James Financial restated an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Barclays boosted their price objective on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $104.70.

Insiders Place Their Bets

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the sale, the chairman directly owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 in the last quarter. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $94.17 on Monday. The company has a market capitalization of $170.93 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 0.88 and a beta of 0.97. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week 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. The business’s 50-day moving average is $94.68 and its 200-day moving average is $89.76.

Charles Schwab (NYSE:SCHW) last issued its earnings results 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. The company had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab announced that its Board of Directors has approved a stock buyback 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 buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is 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.