The Charles Schwab Corporation $SCHW Position Lessened by Wealthspire Advisors LLC

Wealthspire Advisors LLC reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,936 shares of the financial services provider’s stock after selling 766 shares during the quarter. Wealthspire Advisors LLC’s holdings in Charles Schwab were worth $8,023,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC bought a new position in shares of Charles Schwab during the second quarter worth about $25,000. RMG Wealth Management LLC acquired a new position in Charles Schwab during the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its position in 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 worth $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 first quarter valued at approximately $31,000. Finally, Activest Wealth Management raised its holdings in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Up 0.4%

NYSE SCHW opened at $92.32 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $164.05 billion, a P/E ratio of 21.62, a PEG ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The company’s 50 day simple moving average is $94.00 and its 200 day simple moving average is $92.64.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Announces Dividend

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

Insider Activity at Charles Schwab

In related 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 transaction, the insider 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Insiders sold 68,938 shares of company stock worth $6,671,953 in the last quarter. 6.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Barclays raised their price target on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Morgan Stanley upped their price objective on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Cowen reissued a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Finally, JMP Securities restated a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $106.45.

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.