Financial Partners Group LLC Cuts Stock Position in The Charles Schwab Corporation $SCHW

Financial Partners Group LLC lessened its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,142 shares of the financial services provider’s stock after selling 815 shares during the quarter. Financial Partners Group LLC’s holdings in Charles Schwab were worth $2,203,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Atwood & Palmer Inc. purchased a new position in Charles Schwab in the first quarter worth $25,000. Westside Investment Management Inc. grew its holdings in Charles Schwab by 75.0% in the first 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 grew its holdings 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 valued at $30,000 after purchasing an additional 191 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the first quarter valued at $31,000. Finally, Activest Wealth Management grew its holdings in 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 purchasing an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the sale, the chairman owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total value of $305,116.00. Following the sale, the insider owned 37,983 shares of the company’s stock, valued at approximately $3,615,981.60. This trade represents a 7.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,213 shares of company stock worth $26,232,180 over the last quarter. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of several research reports. Bank of America upped their target price on Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a report on Monday, July 21st. JMP Securities increased their price objective on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and increased their price objective for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Piper Sandler increased their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods increased their target price on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Sixteen analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Charles Schwab Stock Performance

NYSE SCHW opened at $95.52 on Friday. The firm has a market capitalization of $173.39 billion, a P/E ratio of 25.68, a P/E/G ratio of 0.94 and a beta of 0.96. The Charles Schwab Corporation has a 1-year low of $62.41 and a 1-year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The business’s 50-day simple moving average is $95.55 and its 200-day simple moving average is $88.04.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate 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 company’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the business posted $0.73 EPS. Equities analysts predict 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 stock 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 often an indication that the company’s management believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

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.