Glass Jacobson Investment Advisors llc Decreases Stake in The Charles Schwab Corporation $SCHW

Glass Jacobson Investment Advisors llc cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 18.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 500 shares of the financial services provider’s stock after selling 116 shares during the quarter. Glass Jacobson Investment Advisors llc’s holdings in Charles Schwab were worth $46,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after buying an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after acquiring an additional 8,954,248 shares during the period. 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 valued at $1,365,227,000 after acquiring an additional 1,700,384 shares during the period. Alliancebernstein L.P. lifted its position in shares of Charles Schwab by 16.0% during the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock worth $1,339,822,000 after acquiring an additional 2,355,309 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Charles Schwab by 5.0% in the first quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock worth $1,220,107,000 after acquiring an additional 743,906 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction dated 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 have sold 267,128 shares of company stock valued at $26,232,077 over the last quarter. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 0.2%

Shares of NYSE SCHW opened at $94.37 on Friday. 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 business has a 50-day moving average of $94.43 and a 200-day moving average of $90.49. The firm has a market capitalization of $171.30 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59.

Charles Schwab (NYSE:SCHW) last announced 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. 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 the consensus estimate of $5.93 billion. During the same period last 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 expect 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 allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently issued reports on SCHW. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Morgan Stanley reduced their target price on Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. BMO Capital Markets initiated coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Charles Schwab 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.