The Charles Schwab Corporation $SCHW Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC grew its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 8.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,337 shares of the financial services provider’s stock after buying an additional 934 shares during the period. Portside Wealth Group LLC’s holdings in Charles Schwab were worth $1,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP boosted its holdings 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 worth $1,212,461,000 after purchasing an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Charles Schwab by 229.3% in the first 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 purchasing an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Charles Schwab by 12.3% in the first 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 during the last quarter. Finally, Nuveen LLC purchased a new position in Charles Schwab during the first quarter worth approximately $440,699,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group reissued a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. Truist Financial boosted their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Barclays raised their price objective on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 68,938 shares of company stock valued at $6,671,953 over the last quarter. 6.30% of the stock is owned by company insiders.

Charles Schwab Stock Up 0.4%

Shares of SCHW opened at $92.32 on Wednesday. The company’s 50-day moving average price is $94.00 and its 200 day moving average price is $92.64. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. 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 firm has a market cap of $164.05 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. Charles Schwab’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

Charles Schwab announced that its Board of Directors has initiated 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 repurchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.