Verdence Capital Advisors LLC Sells 144 Shares of The Charles Schwab Corporation $SCHW

Verdence Capital Advisors LLC lowered its position in The Charles Schwab Corporation (NYSE:SCHW) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,835 shares of the financial services provider’s stock after selling 144 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Charles Schwab were worth $259,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Westside Investment Management Inc. grew its holdings in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 150 shares in the last quarter. RMG Wealth Management LLC bought a new stake in Charles Schwab during the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its position in Charles Schwab by 97.9% during the 1st 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. Stone House Investment Management LLC bought a new stake in Charles Schwab during the first quarter valued at about $31,000. Finally, Activest Wealth Management boosted its position in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday. Morgan Stanley lowered their price objective on Charles Schwab to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft lowered their price target on Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods raised their price target on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.85.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the transaction, the insider directly owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s 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 directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 1.0%

Charles Schwab stock opened at $93.38 on Friday. 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 Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The company has a market capitalization of $169.51 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The stock has a 50-day moving average price of $94.74 and a 200 day moving average price of $89.47.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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 net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the previous year, the business posted $0.71 EPS. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. Sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s payout ratio is currently 29.03%.

Charles Schwab declared that its Board of Directors has authorized a share repurchase program on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.