The Charles Schwab Corporation $SCHW Stake Boosted by United Asset Strategies Inc.

United Asset Strategies Inc. grew its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 194,299 shares of the financial services provider’s stock after purchasing an additional 1,741 shares during the period. Charles Schwab accounts for 1.5% of United Asset Strategies Inc.’s portfolio, making the stock its 13th biggest position. United Asset Strategies Inc.’s holdings in Charles Schwab were worth $17,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bryn Mawr Trust Advisors LLC grew its holdings in shares of Charles Schwab by 2.0% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after purchasing an additional 107 shares during the last quarter. Pine Haven Investment Counsel Inc lifted its holdings in shares of Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after purchasing an additional 110 shares during the last quarter. Principle Wealth Partners LLC boosted its position in Charles Schwab by 2.0% during the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 113 shares during the period. Traveka Wealth LLC grew its stake in Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after buying an additional 117 shares during the last quarter. Finally, 1ST Source Bank increased its position in Charles Schwab by 0.5% in the second quarter. 1ST Source Bank now owns 23,680 shares of the financial services provider’s stock worth $2,161,000 after buying an additional 117 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 65,866 shares of company stock worth $6,370,897. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. TD Cowen boosted their price target 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. Raymond James Financial restated an “outperform” rating and issued a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. Finally, Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. One equities 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Price Performance

NYSE SCHW opened at $96.05 on Wednesday. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The firm has a market capitalization of $174.35 billion, a PE ratio of 22.49, a P/E/G ratio of 0.85 and a beta of 1.02. The company’s 50 day simple moving average is $94.02 and its 200 day simple moving average is $92.19. 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 released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. As a group, equities research analysts forecast 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 share repurchase program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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

Charles Schwab 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.