Bleakley Financial Group LLC Purchases 1,496 Shares of The Charles Schwab Corporation $SCHW

Bleakley Financial Group LLC boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 5.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,922 shares of the financial services provider’s stock after purchasing an additional 1,496 shares during the quarter. Bleakley Financial Group LLC’s holdings in Charles Schwab were worth $2,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. Brighton Jones LLC raised its holdings in Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares during the last quarter. GAMMA Investing LLC raised its holdings in Charles Schwab by 28.2% during the 1st quarter. GAMMA Investing LLC now owns 27,122 shares of the financial services provider’s stock worth $2,123,000 after purchasing an additional 5,973 shares during the last quarter. Golden State Wealth Management LLC increased its stake in shares of Charles Schwab by 168.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,238 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 1,404 shares during the last quarter. Pure Financial Advisors LLC increased its stake in shares of Charles Schwab by 69.0% in the 1st quarter. Pure Financial Advisors LLC now owns 9,274 shares of the financial services provider’s stock valued at $726,000 after acquiring an additional 3,787 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Charles Schwab by 85.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 199,585 shares of the financial services provider’s stock valued at $15,624,000 after acquiring an additional 91,892 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was 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 of the company’s stock, valued at $3,956,519.28. This represents a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares of the company’s stock, valued at approximately $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 quarter, insiders have sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is currently owned by insiders.

Charles Schwab Price Performance

NYSE SCHW opened at $94.37 on Friday. The business has a 50 day simple moving average of $94.43 and a 200 day simple moving average of $90.35. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. 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 stock has a market cap of $171.30 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.85 and a beta of 0.97.

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

Charles Schwab declared that its board has authorized a share repurchase program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio is 25.29%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SCHW shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Truist Financial upped their price target on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Bank of America upped their price target on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Finally, Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. One equities 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

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.