Sutton Place Investors LLC Has $808,000 Holdings in The Charles Schwab Corporation $SCHW

Sutton Place Investors LLC boosted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,860 shares of the financial services provider’s stock after purchasing an additional 183 shares during the quarter. Sutton Place Investors LLC’s holdings in Charles Schwab were worth $808,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SCHW. Atwood & Palmer Inc. acquired a new position in Charles Schwab in the first quarter valued at about $25,000. Westside Investment Management Inc. raised its stake 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 in the last quarter. CBIZ Investment Advisory Services LLC raised 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 valued at $30,000 after purchasing an additional 191 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Charles Schwab in the first quarter valued at about $31,000. Finally, Activest Wealth Management raised its stake 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 in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Bank of America lifted their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday. Citigroup lifted their target price on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Morgan Stanley decreased their target price on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.52.

Insiders Place Their Bets

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 transaction, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 over the last three months. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $94.13 on Friday. The stock has a market cap of $170.87 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average is $95.37 and its 200-day moving average is $88.64. The Charles Schwab Corporation has a 1-year low of $64.07 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business posted $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 Dividend Announcement

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

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

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.