Kingswood Wealth Advisors LLC Boosts Position in The Charles Schwab Corporation $SCHW

Kingswood Wealth Advisors LLC increased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 65.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,956 shares of the financial services provider’s stock after purchasing an additional 3,539 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Charles Schwab were worth $817,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bain Capital Public Equity Management II LLC acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $79,605,000. Independent Advisor Alliance boosted its holdings in shares of Charles Schwab by 13.8% in the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after acquiring an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Charles Schwab by 6.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after acquiring an additional 68,858 shares during the period. PFG Investments LLC boosted its holdings in shares of Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 550 shares during the period. Finally, United Services Automobile Association boosted its holdings in shares of Charles Schwab by 14.1% in the first quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock valued at $3,074,000 after acquiring an additional 4,869 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Down 0.2%

NYSE:SCHW opened at $93.82 on Thursday. The stock has a fifty day moving average price of $95.11 and a two-hundred day moving average price of $88.89. The stock has a market capitalization of $170.30 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 0.91 and a beta of 0.97. 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 Charles Schwab Corporation has a 1 year low of $64.97 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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. The firm had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 earnings per share. As a group, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio is presently 29.03%.

Charles Schwab announced that its board has authorized a stock buyback 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

SCHW has been the subject of several research analyst reports. JMP Securities increased 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. Morgan Stanley cut their price target on Charles Schwab to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. William Blair downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Finally, Truist Financial set a $112.00 price target on Charles Schwab in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.57.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,290 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the sale, the insider directly owned 41,188 shares in the company, valued at $3,956,519.28. This trade represents a 7.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock valued at $26,232,077 in the last three months. 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.