The Charles Schwab Corporation $SCHW Holdings Boosted by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 13.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,252 shares of the financial services provider’s stock after purchasing an additional 489 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Charles Schwab were worth $388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. Vanguard Group Inc. grew its position in Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after purchasing an additional 19,817,022 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Charles Schwab by 595.7% during the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after buying an additional 13,262,309 shares during the period. Primecap Management Co. CA boosted its stake in shares of Charles Schwab by 229.3% during the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after buying an additional 9,749,728 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Charles Schwab by 12.3% during the 1st 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 buying an additional 8,954,248 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Charles Schwab during the 1st quarter valued at $440,699,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SCHW. Barclays reissued an “overweight” rating and set a $114.00 target price on shares of Charles Schwab in a research note on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday. Citigroup lifted their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Bank of America lifted their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $100.57.

Insider Transactions at Charles Schwab

In related news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at $3,956,519.28. This trade represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the transaction, the chairman owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 267,128 shares of company stock worth $26,232,077. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 2.1%

Charles Schwab stock opened at $92.08 on Friday. The company has a market capitalization of $167.15 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.89 and a beta of 0.97. The firm’s fifty day simple moving average is $94.97 and its 200-day simple moving average is $89.13. 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 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 results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. Charles Schwab’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 EPS. Sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

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

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.