The Charles Schwab Corporation $SCHW Shares Acquired by Savvy Advisors Inc.

Savvy Advisors Inc. increased its position in The Charles Schwab Corporation (NYSE:SCHW) by 25.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,068 shares of the financial services provider’s stock after purchasing an additional 5,293 shares during the period. Savvy Advisors Inc.’s holdings in Charles Schwab were worth $2,378,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCHW. Pine Haven Investment Counsel Inc grew its position in shares of Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after acquiring an additional 110 shares in the last quarter. Principle Wealth Partners LLC raised its position in shares of Charles Schwab by 2.0% during the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 113 shares in the last quarter. Traveka Wealth LLC lifted its stake in Charles Schwab by 4.3% during the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 117 shares during the last quarter. Leavell Investment Management Inc. boosted its holdings in Charles Schwab by 1.0% in the second quarter. Leavell Investment Management Inc. now owns 12,173 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 118 shares during the period. Finally, Tlwm boosted its holdings in Charles Schwab by 0.7% in the second quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock worth $1,614,000 after purchasing an additional 120 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $94.59 on Thursday. The firm’s 50 day moving average is $94.34 and its two-hundred day moving average is $90.99. The firm has a market capitalization of $171.70 billion, a P/E ratio of 22.15, a PEG ratio of 0.84 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 Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data 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. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. Analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

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

Charles Schwab announced that its board has authorized a share 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have commented on SCHW. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. Morgan Stanley decreased their price objective on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. TD Cowen lifted their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Insider Activity

In other news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 69,156 shares of company stock valued at $6,686,934. Company insiders own 6.30% of the company’s stock.

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.