Cromwell Holdings LLC Grows Position in The Charles Schwab Corporation $SCHW

Cromwell Holdings LLC raised its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 117.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,381 shares of the financial services provider’s stock after acquiring an additional 2,911 shares during the period. Cromwell Holdings LLC’s holdings in Charles Schwab were worth $491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SCHW. Vanguard Group Inc. raised its holdings in shares of 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of Charles Schwab by 595.7% in the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after acquiring an additional 13,262,309 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Charles Schwab by 229.3% in the 1st 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 acquiring an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Charles Schwab by 12.3% in the 1st 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 acquiring an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Charles Schwab in the 1st quarter valued at about $440,699,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent analyst reports. Morgan Stanley lowered their price target on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays raised their price objective on Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, July 18th. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Finally, JMP Securities raised their price objective on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $100.05.

Charles Schwab Price Performance

SCHW opened at $92.75 on Friday. The stock’s 50 day simple moving average is $95.42 and its 200 day simple moving average is $88.46. 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 Charles Schwab Corporation has a 1 year low of $62.41 and a 1 year high of $99.59. The firm has a market cap of $168.36 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period last year, the company earned $0.73 EPS. Charles Schwab’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given 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 was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

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

Insider Transactions at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,128 shares of company stock worth $26,232,077. Corporate insiders own 6.30% of the company’s stock.

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.