Fusion Capital LLC Boosts Position in The Charles Schwab Corporation $SCHW

Fusion Capital LLC raised its position in The Charles Schwab Corporation (NYSE:SCHW) by 6.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,994 shares of the financial services provider’s stock after acquiring an additional 847 shares during the quarter. Fusion Capital LLC’s holdings in Charles Schwab were worth $1,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its stake in Charles Schwab by 26.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after purchasing an additional 40,275 shares during the period. Bain Capital Public Equity Management II LLC bought a new position in shares of Charles Schwab in the first quarter worth about $79,605,000. Independent Advisor Alliance grew its holdings in shares of Charles Schwab by 13.8% in the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after purchasing an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after buying an additional 68,858 shares during the period. Finally, PFG Investments LLC lifted its holdings in Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after buying an additional 550 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at $1,168,454. The trade was a 20.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 68,938 shares of company stock valued at $6,671,953. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research analyst reports. Barclays upped their target price on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Citigroup boosted their price target on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $94.37 on Friday. The firm has a market cap of $167.70 billion, a price-to-earnings ratio of 22.10, a PEG 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. 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 company’s 50 day moving average is $94.06 and its 200 day moving average is $92.35.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) 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 last year, the firm earned $0.71 EPS. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has authorized a share buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Charles Schwab Dividend Announcement

The company 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. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s payout ratio is currently 25.29%.

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.