Connor Clark & Lunn Investment Management Ltd. Buys 142,554 Shares of The Charles Schwab Corporation $SCHW

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2,356.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 148,603 shares of the financial services provider’s stock after purchasing an additional 142,554 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Charles Schwab were worth $13,559,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Bryn Mawr Trust Advisors LLC lifted its stake in shares of Charles Schwab by 2.0% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after acquiring an additional 107 shares during the period. Pine Haven Investment Counsel Inc raised its holdings in Charles Schwab by 0.3% during 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 purchasing an additional 110 shares during the last quarter. Principle Wealth Partners LLC lifted its position in 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 purchasing an additional 113 shares during the period. Traveka Wealth LLC boosted its stake in shares of Charles Schwab by 4.3% in the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 117 shares during the last quarter. Finally, Leavell Investment Management Inc. boosted its stake in shares of Charles Schwab by 1.0% in the 2nd quarter. Leavell Investment Management Inc. now owns 12,173 shares of the financial services provider’s stock valued at $1,111,000 after purchasing an additional 118 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.5%

Shares of Charles Schwab stock opened at $96.05 on Wednesday. The company has a market capitalization of $174.35 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The business has a 50-day moving average of $94.02 and a two-hundred day moving average of $92.19. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the business posted $0.71 EPS. Charles Schwab’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current 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 issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is 25.29%.

Charles Schwab declared that its board has authorized a stock repurchase program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SCHW shares. Citigroup increased their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Morgan Stanley increased their price target on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Raymond James Financial restated an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab 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 SEC filing for this sale provides additional information. Insiders sold 65,866 shares of company stock valued at $6,370,897 over the last quarter. Corporate 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.