Carnegie Investment Counsel Has $75.40 Million Stock Position in The Charles Schwab Corporation $SCHW

Carnegie Investment Counsel lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 826,339 shares of the financial services provider’s stock after purchasing an additional 6,486 shares during the quarter. Charles Schwab accounts for 1.5% of Carnegie Investment Counsel’s holdings, making the stock its 13th biggest holding. Carnegie Investment Counsel’s holdings in Charles Schwab were worth $75,395,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Pine Haven Investment Counsel Inc boosted its stake in Charles Schwab by 0.3% in the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after buying an additional 110 shares in the last quarter. Principle Wealth Partners LLC boosted its stake in Charles Schwab by 2.0% in the second quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after buying an additional 113 shares in the last quarter. Traveka Wealth LLC boosted its stake in Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after buying an additional 117 shares in the last quarter. Tlwm boosted its stake in Charles Schwab by 0.7% in the second quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock valued at $1,614,000 after buying an additional 120 shares in the last quarter. Finally, Bank of Stockton boosted its stake in Charles Schwab by 1.2% in the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock valued at $967,000 after buying an additional 123 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This represents a 8.44% 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 on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares in the company, valued at $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is owned by company insiders.

Charles Schwab Trading Up 0.2%

Shares of Charles Schwab stock opened at $94.52 on Friday. 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 Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The stock has a 50 day moving average price of $94.46 and a two-hundred day moving average price of $90.18. The stock has a market capitalization of $171.58 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. William Blair lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. JPMorgan Chase & Co. increased their target price on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus target price of $106.00.

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.