The Charles Schwab Corporation $SCHW Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 168,248 shares of the financial services provider’s stock after acquiring an additional 30,821 shares during the period. Wealthfront Advisers LLC’s holdings in Charles Schwab were worth $15,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new stake in Charles Schwab during the 2nd quarter valued at approximately $25,000. Westside Investment Management Inc. lifted its stake in Charles Schwab by 75.0% during 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. RMG Wealth Management LLC acquired a new stake in Charles Schwab during the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC lifted its stake in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares during the period. Finally, Stone House Investment Management LLC purchased a new position in shares of Charles Schwab during the 1st quarter valued at approximately $31,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider owned 11,923 shares of the company’s stock, valued at $1,154,265.63. The trade was a 34.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction 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. Insiders have sold 267,128 shares of company stock worth $26,232,077 in the last 90 days. 6.30% of the stock is owned by insiders.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $94.37 on Monday. The firm has a market cap of $171.30 billion, a PE ratio of 22.10, a PEG ratio of 0.85 and a beta of 0.97. The firm has a fifty day moving average of $94.43 and a 200 day moving average of $90.60. 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 one year low of $65.88 and a one year high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The company 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 revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. As a group, research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has initiated a stock repurchase program 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 reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.27 dividend. 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 Analyst Weigh In

SCHW has been the subject of several recent research reports. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Bank of America lifted their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. 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. TD Cowen lifted their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Morgan Stanley cut their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

About Charles Schwab

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.