The Charles Schwab Corporation (NYSE:SCHW) Shares Sold by Oder Investment Management LLC

Oder Investment Management LLC reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 11,850 shares of the financial services provider’s stock after selling 116 shares during the quarter. Oder Investment Management LLC’s holdings in Charles Schwab were worth $928,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after purchasing an additional 19,817,022 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Charles Schwab by 229.3% in the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after purchasing an additional 9,749,728 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Charles Schwab by 354.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock valued at $814,545,000 after purchasing an additional 8,584,173 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $440,699,000. Finally, Boston Partners acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $383,510,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider owned 41,188 shares of the company’s stock, valued at approximately $3,956,519.28. This trade represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paula A. Sneed sold 8,647 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the transaction, the director directly owned 105,654 shares in the company, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 308,016 shares of company stock worth $29,341,433. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Stock Down 1.8%

Shares of NYSE SCHW opened at $96.03 on Friday. The Charles Schwab Corporation has a 52-week low of $61.16 and a 52-week high of $99.59. The firm has a fifty day moving average of $93.09 and a 200-day moving average of $84.89. The stock has a market capitalization of $174.32 billion, a PE ratio of 25.81, a P/E/G ratio of 0.94 and a beta of 0.96. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the previous year, the company earned $0.73 EPS. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its Board of Directors has approved 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 an indication that the company’s management believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s payout ratio is currently 29.03%.

Analyst Ratings Changes

SCHW has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. TD Securities increased their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods increased their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. Finally, Bank of America raised their target price on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a research report on Monday, July 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.60.

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.