King Luther Capital Management Corp Acquires 194,808 Shares of The Charles Schwab Corporation $SCHW

King Luther Capital Management Corp increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 755.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 220,589 shares of the financial services provider’s stock after purchasing an additional 194,808 shares during the quarter. King Luther Capital Management Corp’s holdings in Charles Schwab were worth $20,127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new stake in shares of Charles Schwab in the second quarter worth $25,000. RMG Wealth Management LLC bought a new stake in Charles Schwab in the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of 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 worth $30,000 after buying an additional 191 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Charles Schwab during the first quarter worth $31,000. Finally, Activest Wealth Management increased its position in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 399 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $95.33 on Monday. 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 50 day moving average price of $94.03 and a 200 day moving average price of $91.96. The stock has a market capitalization of $173.05 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. 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 announced 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 company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations 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 was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 EPS. Analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.27 dividend. 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%.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 65,866 shares of company stock valued at $6,370,897 in the last quarter. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price target on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Cowen restated a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. Barclays raised their target price on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Citigroup upped their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

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.