Almanack Investment Partners LLC. Buys Shares of 2,480 The Charles Schwab Corporation $SCHW

Almanack Investment Partners LLC. bought a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, HoldingsChannel.com reports. The firm bought 2,480 shares of the financial services provider’s stock, valued at approximately $226,000.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Charles Schwab by 15.4% in the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after purchasing an additional 19,817,022 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 12.3% in 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 purchasing an additional 8,954,248 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of 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. boosted its holdings in shares of 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 valued at $1,339,822,000 after acquiring an additional 2,355,309 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings 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 valued at $1,220,107,000 after acquiring an additional 743,906 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction dated 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 approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,128 shares of company stock worth $26,232,077. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 1.7%

Shares of NYSE:SCHW opened at $93.50 on Tuesday. The firm has a market cap of $169.72 billion, a P/E ratio of 25.13, a P/E/G ratio of 0.89 and a beta of 0.97. 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 Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The business has a fifty day simple moving average of $94.90 and a 200 day simple moving average of $89.30.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 19.30% and a net margin of 33.68%.Charles Schwab’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.73 EPS. Analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its board has authorized a stock buyback program on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Charles Schwab Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on SCHW. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Piper Sandler raised their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Bank of America raised their price objective on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Raymond James Financial reissued an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Finally, BMO Capital Markets began coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.57.

Charles Schwab Company 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.