Claro Advisors LLC Cuts Holdings in The Charles Schwab Corporation $SCHW

Claro Advisors LLC trimmed its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 43.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,751 shares of the financial services provider’s stock after selling 2,117 shares during the quarter. Claro Advisors LLC’s holdings in Charles Schwab were worth $251,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the 2nd quarter valued at about $25,000. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab during the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC increased its stake 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 buying an additional 191 shares during the period. Stone House Investment Management LLC acquired a new position in Charles Schwab during the 1st quarter worth approximately $31,000. Finally, Activest Wealth Management increased its holdings in shares of Charles Schwab by 6,650.0% in the 1st 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 in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SCHW has been the subject of several recent research reports. TD Cowen boosted their price target on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Barclays increased their target price on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $94.18 on Friday. 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 12 month low of $65.88 and a 12 month high of $99.59. The business has a fifty day simple moving average of $94.04 and a 200-day simple moving average of $91.62. The stock has a market cap of $170.96 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02.

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

Charles Schwab Announces Dividend

The company 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 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Charles Schwab declared that its Board of Directors has approved a stock repurchase program 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 programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 65,866 shares of company stock valued at $6,370,897. 6.30% of the stock is currently owned by corporate insiders.

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.