Malaga Cove Capital LLC Sells 784 Shares of The Charles Schwab Corporation $SCHW

Malaga Cove Capital LLC reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 47,098 shares of the financial services provider’s stock after selling 784 shares during the period. Charles Schwab makes up approximately 1.7% of Malaga Cove Capital LLC’s holdings, making the stock its 13th biggest holding. Malaga Cove Capital LLC’s holdings in Charles Schwab were worth $4,297,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares during the period. Stratos Wealth Advisors LLC boosted its position in shares of Charles Schwab by 11.0% during the first quarter. Stratos Wealth Advisors LLC now owns 15,553 shares of the financial services provider’s stock worth $1,218,000 after buying an additional 1,544 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Charles Schwab by 5.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 419,318 shares of the financial services provider’s stock worth $32,360,000 after buying an additional 23,212 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Charles Schwab by 90.5% during the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock worth $36,000 after buying an additional 220 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its position in Charles Schwab by 12.6% in the 1st quarter. Axxcess Wealth Management LLC now owns 14,864 shares of the financial services provider’s stock valued at $1,164,000 after buying an additional 1,659 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SCHW shares. Barclays upped their price target on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. BMO Capital Markets began coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. One 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Stock Up 0.5%

Charles Schwab stock opened at $94.18 on Friday. 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 company’s 50-day moving average is $94.04 and its 200-day moving average is $91.62. The firm has a market capitalization of $170.96 billion, a PE ratio of 22.06, a P/E/G ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59.

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

Charles Schwab Announces Dividend

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 dividend of $0.27 per share. The ex-dividend date of this dividend 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 currently 25.29%.

Charles Schwab declared that its Board of Directors has authorized a share buyback program 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 buy up to 11.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 65,866 shares of company stock valued at $6,370,897 over the last ninety days. 6.30% of the stock is currently owned by company insiders.

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.