Independent Advisor Alliance Purchases 4,754 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Independent Advisor Alliance lifted its position in The Charles Schwab Corporation (NYSE:SCHW) by 13.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 39,103 shares of the financial services provider’s stock after buying an additional 4,754 shares during the quarter. Independent Advisor Alliance’s holdings in Charles Schwab were worth $3,061,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Linscomb Wealth Inc. boosted its position in Charles Schwab by 1.9% during the first quarter. Linscomb Wealth Inc. now owns 40,214 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 735 shares during the period. SouthState Corp boosted its position in Charles Schwab by 3,078.5% during the first quarter. SouthState Corp now owns 6,071 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 5,880 shares during the period. Burkehill Global Management LP bought a new stake in Charles Schwab during the first quarter worth approximately $74,366,000. Nuveen LLC bought a new stake in Charles Schwab during the first quarter worth approximately $440,699,000. Finally, Cooper Financial Group boosted its position in Charles Schwab by 2.1% during the first quarter. Cooper Financial Group now owns 14,248 shares of the financial services provider’s stock worth $1,115,000 after purchasing an additional 298 shares during the period. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Bank of America upped their target price on Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a research report on Monday, July 21st. TD Securities upped their target price on Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. JMP Securities upped their target price on Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Monday, July 21st. The Goldman Sachs Group upgraded Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, April 25th. Finally, Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and upped their price target for the stock from $65.00 to $82.00 in a report on Monday, June 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.35.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the sale, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,850 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $87.57, for a total value of $249,574.50. Following the sale, the insider owned 15,219 shares in the company, valued at $1,332,727.83. The trade was a 15.77% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,016 shares of company stock valued at $29,341,433. 6.30% of the stock is owned by insiders.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $97.67 on Tuesday. The business has a fifty day simple moving average of $92.34 and a 200 day simple moving average of $84.51. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $177.47 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a one year low of $61.16 and a one year high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its earnings results 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 return on equity of 19.73% and a net margin of 33.68%. Charles Schwab’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, August 8th. Charles Schwab’s dividend payout ratio is 29.03%.

Charles Schwab declared that its board has initiated a stock repurchase plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are 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.