11,895 Shares in The Charles Schwab Corporation $SCHW Purchased by Notis McConarty Edward

Notis McConarty Edward acquired a new position in The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,895 shares of the financial services provider’s stock, valued at approximately $1,085,000.

Other large investors have also recently bought and sold shares of the company. RMG Wealth Management LLC acquired a new position in Charles Schwab during the 2nd quarter valued at about $27,000. Westside Investment Management Inc. increased its stake in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares during the period. CBIZ Investment Advisory Services LLC increased its stake in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the period. Stone House Investment Management LLC acquired a new position in Charles Schwab during the 1st quarter valued at about $31,000. Finally, Activest Wealth Management increased its stake in Charles Schwab by 6,650.0% during the 1st 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 period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Piper Sandler raised their target price on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Bank of America raised their price objective on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. JMP Securities raised their price objective on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Finally, BMO Capital Markets assumed coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Charles Schwab Stock Down 0.2%

SCHW stock opened at $93.82 on Thursday. The Charles Schwab Corporation has a 52-week low of $64.97 and a 52-week high of $99.59. The company’s 50 day simple moving average is $95.11 and its 200-day simple moving average is $88.89. 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 firm has a market capitalization of $170.30 billion, a P/E ratio of 25.22, a P/E/G ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) 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 net margin of 33.68% and a return on equity of 19.30%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share. As a group, equities research analysts anticipate 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 was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend 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 announced that its Board of Directors has approved a stock 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the sale, the chairman owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

About Charles Schwab

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.