TD Private Client Wealth LLC Purchases 17,242 Shares of The Charles Schwab Corporation $SCHW

TD Private Client Wealth LLC increased its position in The Charles Schwab Corporation (NYSE:SCHW) by 87.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,050 shares of the financial services provider’s stock after buying an additional 17,242 shares during the period. TD Private Client Wealth LLC’s holdings in Charles Schwab were worth $3,380,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Mather Group LLC. increased its stake in shares of Charles Schwab by 7.3% during the 2nd quarter. Mather Group LLC. now owns 6,638 shares of the financial services provider’s stock worth $606,000 after purchasing an additional 453 shares during the last quarter. Pine Haven Investment Counsel Inc increased its position in Charles Schwab by 0.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after buying an additional 110 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Charles Schwab by 2.1% during the second quarter. Public Employees Retirement System of Ohio now owns 696,105 shares of the financial services provider’s stock valued at $63,513,000 after buying an additional 14,503 shares in the last quarter. Northside Capital Management LLC acquired a new stake in shares of Charles Schwab in the second quarter worth about $229,000. Finally, IMS Capital Management acquired a new stake in shares of Charles Schwab in the second quarter worth about $1,278,000. 84.38% of the stock is owned by institutional investors.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the firm’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. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the sale, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 267,213 shares of company stock valued at $26,232,180. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $92.32 on Thursday. The firm’s 50-day moving average is $95.52 and its 200-day moving average is $87.63. The company has a market cap of $167.57 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 0.93 and a beta of 0.96. 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 Charles Schwab Corporation has a 52-week low of $62.41 and a 52-week high of $99.59.

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

Charles Schwab declared that its Board of Directors has initiated a share buyback plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid 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 dividend payout ratio is currently 29.03%.

Analyst Ratings Changes

A number of research analysts recently weighed in on SCHW shares. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and raised their price objective for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Truist Financial lifted their price target on shares of Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Barclays upped their price objective on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Bank of America lifted their target price on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a report on Monday, July 21st. Finally, Citigroup upped their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Sixteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Charles Schwab 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.