Oliver Luxxe Assets LLC Raises Holdings in The Charles Schwab Corporation $SCHW

Oliver Luxxe Assets LLC boosted its position in The Charles Schwab Corporation (NYSE:SCHW) by 14.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,774 shares of the financial services provider’s stock after acquiring an additional 8,821 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Charles Schwab were worth $6,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SCHW. Dogwood Wealth Management LLC raised its holdings in shares of Charles Schwab by 99.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 123 shares during the period. Optima Capital LLC purchased a new stake in shares of Charles Schwab during the 4th quarter worth about $30,000. Scarborough Advisors LLC purchased a new stake in shares of Charles Schwab during the 1st quarter worth about $29,000. McIlrath & Eck LLC grew its holdings in shares of Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 189 shares during the period. Finally, Main Street Group LTD acquired a new stake in Charles Schwab during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $107.55 on Friday. The business’s 50-day simple moving average is $97.28 and its 200 day simple moving average is $95.66. The company has a market cap of $187.04 billion, a P/E ratio of 19.55, a PEG ratio of 0.82 and a beta of 0.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $109.05.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The firm had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the prior year, the business earned $1.14 EPS. Charles Schwab’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.32 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is 23.27%.

Insiders Place Their Bets

In related news, insider Dennis Howard sold 28,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $105.01, for a total transaction of $2,940,280.00. Following the completion of the sale, the insider directly owned 10,470 shares of the company’s stock, valued at approximately $1,099,454.70. This trade represents a 72.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nigel J. Murtagh sold 32,947 shares of Charles Schwab stock in a transaction on Monday, July 27th. The stock was sold at an average price of $104.01, for a total transaction of $3,426,817.47. Following the sale, the insider directly owned 57,972 shares in the company, valued at $6,029,667.72. This trade represents a 36.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 363,848 shares of company stock valued at $37,874,706. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several research reports. Morgan Stanley raised their price target on shares of Charles Schwab from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Argus increased their price objective on shares of Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Raymond James Financial restated an “outperform” rating and set a $145.00 target price on shares of Charles Schwab in a report on Wednesday, July 22nd. Finally, TD Cowen upped their price target on shares of Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.