Gries Financial LLC Purchases 1,300 Shares of The Charles Schwab Corporation $SCHW

Gries Financial LLC raised its position in The Charles Schwab Corporation (NYSE:SCHW) by 48.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,964 shares of the financial services provider’s stock after purchasing an additional 1,300 shares during the period. Gries Financial LLC’s holdings in Charles Schwab were worth $362,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SCHW. Vanguard Group Inc. boosted its holdings in Charles Schwab by 15.4% in the 1st 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 period. Wellington Management Group LLP raised its position in shares of Charles Schwab by 595.7% during 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 in the last quarter. Primecap Management Co. CA raised its position in shares of Charles Schwab by 229.3% during the 1st 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 buying an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after buying an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Charles Schwab during the 1st quarter valued at $440,699,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SCHW shares. JMP Securities raised their price objective on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Piper Sandler raised their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $93.89 on Wednesday. The company’s fifty day moving average is $95.50 and its 200 day moving average is $87.59. The Charles Schwab Corporation has a 52 week low of $62.41 and a 52 week high of $99.59. The stock has a market cap of $170.43 billion, a PE ratio of 25.24, a PEG ratio of 0.93 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

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

Charles Schwab Announces Dividend

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

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

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction dated 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 owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 267,213 shares of company stock valued at $26,232,180. Company 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.