King Luther Capital Management Corp Has $20.13 Million Holdings in The Charles Schwab Corporation $SCHW

King Luther Capital Management Corp grew its position in The Charles Schwab Corporation (NYSE:SCHW) by 755.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,589 shares of the financial services provider’s stock after purchasing an additional 194,808 shares during the quarter. King Luther Capital Management Corp’s holdings in Charles Schwab were worth $20,127,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC acquired a new position in Charles Schwab in the 2nd quarter valued at $25,000. RMG Wealth Management LLC bought a new stake in shares of Charles Schwab in the second quarter valued at about $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Charles Schwab in the second quarter valued at about $32,000. Hoese & Co LLP grew its stake in shares of Charles Schwab by 131.6% in the second 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 in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of Charles Schwab by 97.9% in the first 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 in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of recent research reports. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Morgan Stanley raised their price objective on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. One equities research 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. According to data from MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Charles Schwab Stock Performance

Charles Schwab stock opened at $95.33 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a market cap of $173.05 billion, a PE ratio of 22.33, a P/E/G ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The business’s 50-day moving average price is $94.03 and its two-hundred day moving average price is $91.96.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.38 billion for 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%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the company posted $0.71 EPS. As a group, analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders 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 dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is 25.29%.

Charles Schwab declared that its board has initiated a stock buyback plan on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 65,866 shares of company stock worth $6,370,897. Insiders own 6.30% of the company’s stock.

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.