Foster Group Inc. Acquires Shares of 2,351 The Charles Schwab Corporation $SCHW

Foster Group Inc. bought a new position in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,351 shares of the financial services provider’s stock, valued at approximately $215,000.

Several other institutional investors have also recently added to or reduced their stakes in SCHW. Atwood & Palmer Inc. acquired a new position in shares of Charles Schwab in the 1st quarter worth approximately $25,000. Westside Investment Management Inc. raised its position in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of Charles Schwab during the first quarter worth $31,000. Finally, Activest Wealth Management increased its stake in shares of Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares in the company, valued at $5,776,592.09. The trade was a 29.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,213 shares of company stock worth $26,232,180. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SCHW. Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $65.00 to $82.00 in a report on Monday, June 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Barclays raised their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Truist Financial upped their price objective on Charles Schwab from $107.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Finally, William Blair lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Sixteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $100.00.

Charles Schwab Price Performance

Shares of SCHW opened at $94.34 on Tuesday. 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 stock has a 50 day simple moving average of $95.46 and a 200 day simple moving average of $87.55. The Charles Schwab Corporation has a 52-week low of $62.41 and a 52-week high of $99.59. The firm has a market capitalization of $171.25 billion, a PE ratio of 25.36, a P/E/G ratio of 0.93 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period last year, the company posted $0.73 EPS. Sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has approved a share buyback program 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 programs are usually an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 29.03%.

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.