The Charles Schwab Corporation $SCHW Position Reduced by Boston Common Asset Management LLC

Boston Common Asset Management LLC cut its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,024 shares of the financial services provider’s stock after selling 3,588 shares during the quarter. Boston Common Asset Management LLC’s holdings in Charles Schwab were worth $11,681,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Atwood & Palmer Inc. purchased a new stake in Charles Schwab during the first quarter valued at about $25,000. Westside Investment Management Inc. lifted its stake in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of Charles Schwab by 97.9% in the 1st 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 period. Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab in the first quarter worth approximately $31,000. Finally, Activest Wealth Management lifted its position 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 worth $32,000 after purchasing an additional 399 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays increased their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. BMO Capital Markets assumed coverage on shares of Charles Schwab in a research report on Friday. They issued an “outperform” rating and a $110.00 price target for the company. Piper Sandler increased their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Raymond James Financial reissued an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Finally, Bank of America increased their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.52.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman directly owned 590,734 shares of the company’s stock, valued at $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was 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 of the company’s stock, 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 267,128 shares of company stock valued at $26,232,077 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 1.5%

Shares of Charles Schwab stock opened at $94.13 on Friday. The Charles Schwab Corporation has a 12-month low of $64.07 and a 12-month high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $170.87 billion, a P/E ratio of 25.30, a PEG ratio of 0.91 and a beta of 0.97. The stock has a 50 day moving average price of $95.37 and a two-hundred day moving average price of $88.64.

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

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is currently 29.03%.

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 purchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.