Leavell Investment Management Inc. Grows Stake in The Charles Schwab Corporation $SCHW

Leavell Investment Management Inc. lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,173 shares of the financial services provider’s stock after buying an additional 118 shares during the quarter. Leavell Investment Management Inc.’s holdings in Charles Schwab were worth $1,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Princeton Global Asset Management LLC bought a new stake in shares of Charles Schwab in the second quarter valued at $25,000. RMG Wealth Management LLC bought a new position in shares of Charles Schwab during the 2nd quarter worth $27,000. Mid American Wealth Advisory Group Inc. purchased a new stake in Charles Schwab in the 2nd quarter worth about $32,000. Westside Investment Management Inc. raised its stake in Charles Schwab by 75.0% in the 1st 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 during the period. Finally, Hoese & Co LLP raised its stake in Charles Schwab by 131.6% in the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 shares were 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. Over 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.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of research reports. Truist Financial increased their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. William Blair downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Finally, Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Charles Schwab Stock Performance

NYSE SCHW opened at $94.37 on Monday. The company’s 50 day simple moving average is $94.43 and its two-hundred day simple moving average is $90.60. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The stock has a market capitalization of $171.30 billion, a PE ratio of 22.10, 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 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 firm had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was up 26.6% on a year-over-year basis. Analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its board has initiated a share repurchase program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm 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 $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

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.