The Charles Schwab Corporation $SCHW Stake Lowered by Legal Advantage Investments Inc.

Legal Advantage Investments Inc. reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,660 shares of the financial services provider’s stock after selling 1,240 shares during the period. Charles Schwab accounts for 2.8% of Legal Advantage Investments Inc.’s investment portfolio, making the stock its 9th biggest holding. Legal Advantage Investments Inc.’s holdings in Charles Schwab were worth $6,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SCHW. Westside Investment Management Inc. lifted its stake in shares of Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 191 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Charles Schwab in the 1st quarter valued at $31,000. Finally, Activest Wealth Management lifted its stake in shares of Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the subject of several analyst reports. Morgan Stanley reduced their price objective on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Barclays reissued an “overweight” rating and set a $114.00 target price on shares of Charles Schwab in a research report on Wednesday. Bank of America boosted their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 3,290 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the transaction, the insider owned 41,188 shares of the company’s stock, valued at approximately $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock valued at $26,232,077 in the last three months. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 2.1%

Shares of SCHW opened at $92.08 on Friday. The company has a 50-day simple moving average of $94.97 and a 200-day simple moving average of $89.13. The firm 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 company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share. On average, equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is currently 29.03%.

Charles Schwab announced that its board has authorized a share buyback plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is 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.