Whalen Wealth Management Inc. Invests $647,000 in The Charles Schwab Corporation $SCHW

Whalen Wealth Management Inc. purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,089 shares of the financial services provider’s stock, valued at approximately $647,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SCHW. Princeton Global Asset Management LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at $25,000. Westside Investment Management Inc. raised its position in Charles Schwab by 75.0% in the 1st 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. RMG Wealth Management LLC purchased a new stake in Charles Schwab in the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC raised its position in 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 last quarter. Finally, Stone House Investment Management LLC purchased a new stake in Charles Schwab in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on SCHW shares. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. BMO Capital Markets initiated coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. Citigroup upped their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Raymond James Financial restated an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Finally, William Blair downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction dated Wednesday, August 27th. The shares were 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 is available through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 69,156 shares of company stock valued at $6,686,934 in the last ninety days. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Stock Performance

NYSE:SCHW opened at $93.78 on Wednesday. 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 Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The stock has a market cap of $170.23 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The firm’s fifty day simple moving average is $94.36 and its 200-day simple moving average is $90.87.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping 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 business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. Analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid 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 dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is 25.29%.

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

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.