The Charles Schwab Corporation $SCHW is Ironwood Investment Counsel LLC’s 9th Largest Position

Ironwood Investment Counsel LLC cut its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,542 shares of the financial services provider’s stock after selling 1,819 shares during the quarter. Charles Schwab accounts for approximately 1.8% of Ironwood Investment Counsel LLC’s holdings, making the stock its 9th biggest position. Ironwood Investment Counsel LLC’s holdings in Charles Schwab were worth $12,002,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SCHW. Vanguard Group Inc. boosted its holdings in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the period. Northern Trust Corp boosted its holdings in Charles Schwab by 10.8% in the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after purchasing an additional 1,700,384 shares in the last quarter. Alliancebernstein L.P. increased its position in Charles Schwab by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock worth $1,339,822,000 after purchasing an additional 2,355,309 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Charles Schwab by 5.0% during the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock worth $1,220,107,000 after buying an additional 743,906 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of analyst reports. Morgan Stanley lifted 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. The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. BMO Capital Markets assumed coverage on shares of Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and an average target price of $106.45.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 65,866 shares of company stock valued at $6,370,897. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $96.05 on Wednesday. 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 stock has a market cap of $174.35 billion, a P/E ratio of 22.49, a PEG ratio of 0.85 and a beta of 1.02. The company 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 12-month low of $65.88 and a 12-month high of $99.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the business earned $0.71 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business 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 dividend of $0.27 per share. 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 dividend payout ratio is 25.29%.

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

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.