The Charles Schwab Corporation $SCHW Stock Holdings Lessened by Wealthspire Advisors LLC

Wealthspire Advisors LLC reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 87,936 shares of the financial services provider’s stock after selling 766 shares during the quarter. Wealthspire Advisors LLC’s holdings in Charles Schwab were worth $8,023,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Perennial Investment Advisors LLC grew its holdings in shares of Charles Schwab by 12.9% during the 2nd quarter. Perennial Investment Advisors LLC now owns 3,696 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 423 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of Charles Schwab by 8.2% during the second quarter. Portside Wealth Group LLC now owns 12,337 shares of the financial services provider’s stock worth $1,126,000 after acquiring an additional 934 shares in the last quarter. Empowered Funds LLC boosted its position in Charles Schwab by 16.6% during the second quarter. Empowered Funds LLC now owns 72,348 shares of the financial services provider’s stock valued at $6,601,000 after purchasing an additional 10,308 shares during the last quarter. Vanguard Group Inc. grew its stake in Charles Schwab by 1.9% in the second quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock valued at $13,793,853,000 after purchasing an additional 2,786,829 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. grew its stake in Charles Schwab by 4.8% in the second quarter. Greykasell Wealth Strategies Inc. now owns 5,488 shares of the financial services provider’s stock valued at $501,000 after purchasing an additional 252 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 0.4%

SCHW opened at $92.32 on Wednesday. The firm has a market cap of $164.05 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. 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 business has a 50 day moving average price of $94.00 and a 200 day moving average price of $92.64. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter last year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. Research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced 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 1.2%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

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

Analysts Set New Price Targets

SCHW has been the subject of a number of recent research reports. BMO Capital Markets initiated coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Morgan Stanley lifted their target price on shares of Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Cowen reissued a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Finally, Barclays increased their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. One equities 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 issued a Sell rating to the company. Based on data from MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’s 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The SEC filing for this sale provides additional information. Insiders sold a total of 68,938 shares of company stock valued at $6,671,953 in the last quarter. Insiders own 6.30% of the company’s stock.

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.