Brighton Jones LLC Has $2.85 Million Stake in The Charles Schwab Corporation $SCHW

Brighton Jones LLC boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 25.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 31,181 shares of the financial services provider’s stock after purchasing an additional 6,325 shares during the period. Brighton Jones LLC’s holdings in Charles Schwab were worth $2,845,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SCHW. Princeton Global Asset Management LLC acquired a new stake in Charles Schwab during the second quarter worth about $25,000. Westside Investment Management Inc. grew its stake in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares in the last quarter. RMG Wealth Management LLC acquired a new stake in Charles Schwab during the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC grew its stake in Charles Schwab by 97.9% during 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 acquired a new stake in shares of Charles Schwab in the 1st quarter valued at approximately $31,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Down 0.2%

Shares of NYSE SCHW opened at $94.37 on Monday. The company has a 50 day simple moving average of $94.43 and a 200 day simple moving average of $90.60. The firm has a market cap of $171.30 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

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

Charles Schwab declared that its board has initiated a stock repurchase program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Charles Schwab Announces Dividend

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

Insider Activity

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the transaction, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. This trade 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 that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. 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 restated an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. BMO Capital Markets assumed coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price target on the stock. Finally, 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 research note on Friday, October 17th. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.