The Charles Schwab Corporation $SCHW Stock Holdings Decreased by Main Street Research LLC

Main Street Research LLC lowered its stake in The Charles Schwab Corporation (NYSE:SCHW) by 5.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 33,617 shares of the financial services provider’s stock after selling 1,799 shares during the period. Main Street Research LLC’s holdings in Charles Schwab were worth $3,067,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ellevest Inc. increased its position in shares of Charles Schwab by 2.7% in the 2nd quarter. Ellevest Inc. now owns 7,156 shares of the financial services provider’s stock worth $653,000 after purchasing an additional 186 shares during the last quarter. Cassaday & Co Wealth Management LLC increased its position in shares of Charles Schwab by 3.4% in the 2nd quarter. Cassaday & Co Wealth Management LLC now owns 6,512 shares of the financial services provider’s stock worth $594,000 after purchasing an additional 212 shares during the last quarter. Pointe Capital Management LLC increased its position in shares of Charles Schwab by 2.0% in the 2nd quarter. Pointe Capital Management LLC now owns 6,884 shares of the financial services provider’s stock worth $628,000 after purchasing an additional 138 shares during the last quarter. NewSquare Capital LLC increased its position in shares of Charles Schwab by 40.6% in the 2nd quarter. NewSquare Capital LLC now owns 1,070 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 309 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new stake in shares of Charles Schwab in the 2nd quarter worth about $220,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SCHW shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Barclays lifted their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. Finally, Piper Sandler reaffirmed 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 assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.45.

Insider Transactions at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 65,866 shares of company stock valued at $6,370,897. Company insiders own 6.30% of the company’s stock.

Charles Schwab Trading Up 0.7%

Charles Schwab stock opened at $93.84 on Wednesday. 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 firm has a 50-day moving average price of $94.16 and a two-hundred day moving average price of $91.59. The firm has a market capitalization of $170.33 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 0.85 and a beta of 0.97. 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 posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.14 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

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

Charles Schwab announced that its Board of Directors has authorized a share repurchase program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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.