Resonant Capital Advisors LLC Has $3.21 Million Stake in The Charles Schwab Corporation $SCHW

Resonant Capital Advisors LLC lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 8.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,219 shares of the financial services provider’s stock after acquiring an additional 2,741 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Charles Schwab were worth $3,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its position in shares of Charles Schwab by 26.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after purchasing an additional 40,275 shares in the last quarter. Bain Capital Public Equity Management II LLC acquired a new position in Charles Schwab during the first quarter worth $79,605,000. Independent Advisor Alliance lifted its position in Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after acquiring an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Charles Schwab by 6.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after buying an additional 68,858 shares during the last quarter. Finally, PFG Investments LLC boosted its holdings in Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 550 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’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 completion of the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 over the last ninety days. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

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

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

Charles Schwab announced that its board has approved a share buyback 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SCHW shares. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab 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 research note on Friday, July 18th. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Morgan Stanley dropped their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. One investment 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.