Benin Management CORP Sells 1,300 Shares of The Charles Schwab Corporation $SCHW

Benin Management CORP lowered its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 29.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,103 shares of the financial services provider’s stock after selling 1,300 shares during the quarter. Benin Management CORP’s holdings in Charles Schwab were worth $283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC bought a new position in Charles Schwab during the second quarter worth $25,000. Westside Investment Management Inc. increased its position 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 worth $27,000 after acquiring an additional 150 shares during the period. RMG Wealth Management LLC bought a new position in Charles Schwab during the second quarter worth $27,000. CBIZ Investment Advisory Services LLC increased its position in 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 acquiring an additional 191 shares during the period. Finally, Stone House Investment Management LLC bought a new stake in Charles Schwab in the 1st quarter valued at $31,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.2%

Shares of NYSE:SCHW opened at $95.12 on Wednesday. The Charles Schwab Corporation has a 52 week low of $65.88 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 company’s fifty day moving average is $94.55 and its 200-day moving average is $89.98. The company has a market capitalization of $172.66 billion, a PE ratio of 22.28, a P/E/G ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 26.6% 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 declared that its board has initiated a share 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 generally an indication that the company’s management believes its stock is undervalued.

Charles Schwab Dividend Announcement

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

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% 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 quarter. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several analyst reports. William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a report on Friday. Raymond James Financial reissued an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. Citigroup boosted their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, BMO Capital Markets initiated coverage on shares of Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.00.

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.