Mesirow Financial Investment Management Inc. Sells 323 Shares of The Charles Schwab Corporation $SCHW

Mesirow Financial Investment Management Inc. cut its position in The Charles Schwab Corporation (NYSE:SCHW) by 0.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 137,586 shares of the financial services provider’s stock after selling 323 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Charles Schwab were worth $12,553,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Princeton Global Asset Management LLC bought a new position in Charles Schwab in the second quarter valued at about $25,000. RMG Wealth Management LLC bought a new position in Charles Schwab in the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its position in Charles Schwab by 97.9% in the first 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. Stone House Investment Management LLC bought a new position in Charles Schwab in the first quarter valued at about $31,000. Finally, Activest Wealth Management raised its position in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Down 0.3%

Shares of SCHW stock opened at $94.34 on Friday. The company has a market cap of $171.26 billion, a P/E ratio of 22.09, a PEG ratio of 0.85 and a beta of 0.97. The stock has a 50 day simple moving average of $94.31 and a two-hundred day simple moving average of $91.02. 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 Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its 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. The business had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

Charles Schwab Dividend Announcement

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

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider 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 legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 65,866 shares of company stock worth $6,370,897. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on SCHW. Citigroup increased their target price on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Cowen reissued a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. JMP Securities reissued a “market outperform” rating and issued a $110.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Keefe, Bruyette & Woods increased their price target on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average price target 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.