The Charles Schwab Corporation $SCHW Shares Bought by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,177 shares of the financial services provider’s stock after acquiring an additional 150 shares during the quarter. Charles Schwab accounts for about 0.7% of Greenup Street Wealth Management LLC’s holdings, making the stock its 29th largest position. Greenup Street Wealth Management LLC’s holdings in Charles Schwab were worth $4,304,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Charles Schwab by 12.3% in 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 acquiring an additional 8,954,248 shares in the last quarter. Northern Trust Corp lifted its position in shares of Charles Schwab by 10.8% in the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after acquiring an additional 1,700,384 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Charles Schwab by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock valued at $1,339,822,000 after acquiring an additional 2,355,309 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Charles Schwab by 5.0% in the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock valued at $1,220,107,000 after acquiring an additional 743,906 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the sale, the insider owned 11,923 shares of the company’s stock, valued at $1,154,265.63. The trade was a 34.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were 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 directly owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Trading Up 0.8%

NYSE:SCHW opened at $94.93 on Tuesday. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The firm has a market cap of $172.32 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 0.88 and a beta of 0.97. 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 company’s 50 day moving average is $94.62 and its 200-day moving average is $89.94.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter last year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has approved a stock buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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 given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s payout ratio is 25.29%.

Wall Street Analyst Weigh In

SCHW has been the subject of several research reports. Barclays raised their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James Financial restated an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Finally, BMO Capital Markets initiated coverage on shares of Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

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.