Studio Investment Management LLC Sells 118 Shares of The Charles Schwab Corporation $SCHW

Studio Investment Management LLC lessened its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,861 shares of the financial services provider’s stock after selling 118 shares during the period. Studio Investment Management LLC’s holdings in Charles Schwab were worth $352,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SCHW. Princeton Global Asset Management LLC bought a new stake in shares of Charles Schwab during the second quarter valued at approximately $25,000. Westside Investment Management Inc. raised its stake in shares of 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 acquiring an additional 150 shares in the last quarter. RMG Wealth Management LLC bought a new position in Charles Schwab in the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC raised its stake 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. Finally, Stone House Investment Management LLC bought a new position in Charles Schwab in the first quarter worth approximately $31,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

NYSE SCHW opened at $94.24 on Thursday. The firm’s fifty day simple moving average is $94.53 and its two-hundred day simple moving average is $90.01. 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 Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The firm has a market capitalization of $171.06 billion, a P/E ratio of 22.07, a P/E/G ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (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 period in the previous year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. Analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has initiated 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 shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This represents a 34.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 over the last 90 days. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent research reports. JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. Truist Financial raised their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Raymond James Financial restated an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. Finally, Morgan Stanley lowered their price target on shares of Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. One research 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.