The Charles Schwab Corporation $SCHW Shares Acquired by Portside Wealth Group LLC

Portside Wealth Group LLC increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 8.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,337 shares of the financial services provider’s stock after acquiring an additional 934 shares during the period. Portside Wealth Group LLC’s holdings in Charles Schwab were worth $1,126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SCHW. Vanguard Group Inc. increased its holdings in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after purchasing an additional 19,817,022 shares during the period. Wellington Management Group LLP boosted its stake in shares of Charles Schwab by 595.7% in the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after buying an additional 13,262,309 shares during the period. Primecap Management Co. CA grew its position in shares of Charles Schwab by 229.3% during the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after buying an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after buying an additional 8,954,248 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Charles Schwab during the first quarter worth approximately $440,699,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 68,938 shares of company stock valued at $6,671,953. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on SCHW. Morgan Stanley lifted their price target on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Barclays raised their price target on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, JPMorgan Chase & Co. lifted their price target on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. One research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Stock Performance

NYSE SCHW opened at $92.32 on Wednesday. The company has a fifty day moving average of $94.00 and a two-hundred day moving average of $92.64. The company has a market capitalization of $164.05 billion, a PE ratio of 21.62, a P/E/G ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. 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 posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. The business 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 business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. As a group, analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.27 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s payout ratio is currently 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.