Retirement Planning Group LLC Purchases 259 Shares of The Charles Schwab Corporation $SCHW

Retirement Planning Group LLC raised its position in The Charles Schwab Corporation (NYSE:SCHW) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,780 shares of the financial services provider’s stock after purchasing an additional 259 shares during the period. Retirement Planning Group LLC’s holdings in Charles Schwab were worth $892,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SCHW. Cullen Frost Bankers Inc. raised its position in Charles Schwab by 12.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 11,037 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 1,183 shares during the period. Fiduciary Family Office LLC increased its position in shares of Charles Schwab by 45.8% in the second quarter. Fiduciary Family Office LLC now owns 4,482 shares of the financial services provider’s stock valued at $409,000 after acquiring an additional 1,407 shares during the period. Greenup Street Wealth Management LLC increased its position in shares of Charles Schwab by 0.3% in the second quarter. Greenup Street Wealth Management LLC now owns 47,177 shares of the financial services provider’s stock valued at $4,304,000 after acquiring an additional 150 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Charles Schwab by 3.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 117,866 shares of the financial services provider’s stock valued at $10,754,000 after acquiring an additional 3,951 shares during the period. Finally, Whittier Trust Co. increased its position in shares of Charles Schwab by 3.1% in the second quarter. Whittier Trust Co. now owns 380,291 shares of the financial services provider’s stock valued at $34,697,000 after acquiring an additional 11,297 shares during the period. 84.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on SCHW. Bank of America boosted their price objective on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday. The Goldman Sachs Group restated a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Insider Buying and Selling at Charles Schwab

In related news, insider Nigel J. Murtagh sold 24,096 shares of the business’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 sale, the insider owned 58,999 shares of the company’s stock, valued at $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% 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 valued at $26,232,077 over the last three months. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Trading Down 0.9%

Shares of SCHW opened at $94.24 on Thursday. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $94.53 and its 200-day moving average price is $90.01. The firm has a market capitalization of $171.06 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping 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 business had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Charles Schwab’s quarterly revenue was up 26.6% on a year-over-year basis. Sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its Board of Directors has initiated a stock repurchase program 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 reacquire up to 11.6% of its stock through open market purchases. Stock repurchase programs are usually 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.