Lecap Asset Management Ltd. Sells 7,119 Shares of The Charles Schwab Corporation $SCHW

Lecap Asset Management Ltd. decreased its position in The Charles Schwab Corporation (NYSE:SCHW) by 24.2% during the second quarter, HoldingsChannel.com reports. The fund owned 22,312 shares of the financial services provider’s stock after selling 7,119 shares during the quarter. Charles Schwab comprises 0.7% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 26th biggest position. Lecap Asset Management Ltd.’s holdings in Charles Schwab were worth $2,036,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Atwood & Palmer Inc. purchased a new position in Charles Schwab during the 1st quarter valued at $25,000. Westside Investment Management Inc. lifted its holdings in shares of Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares during the period. CBIZ Investment Advisory Services LLC raised its position in shares of 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 acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Charles Schwab in the 1st quarter worth $31,000. Finally, Activest Wealth Management raised its position in shares of Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 399 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SCHW. Deutsche Bank Aktiengesellschaft reduced their price target on Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. JMP Securities boosted their price target 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. Morgan Stanley reduced their target price on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday. Bank of America upped their target price on Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a research report on Monday, July 21st. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. Sixteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average target price of $99.95.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 6,144 shares of the 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 directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the sale, the insider directly owned 41,188 shares in the company, valued at approximately $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,923 shares of company stock valued at $25,932,955. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 3.4%

Shares of SCHW stock opened at $92.22 on Thursday. The stock’s 50-day simple moving average is $95.50 and its 200-day simple moving average is $88.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $167.39 billion, a PE ratio of 24.79, a P/E/G ratio of 0.94 and a beta of 0.97. The Charles Schwab Corporation has a fifty-two week low of $62.41 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for 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%.The company’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 earnings per share. Equities analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

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

Charles Schwab announced that its board has approved a stock repurchase program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership 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.