Crestwood Advisors Group LLC Sells 504,686 Shares of The Charles Schwab Corporation $SCHW

Crestwood Advisors Group LLC reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 78.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 136,242 shares of the financial services provider’s stock after selling 504,686 shares during the period. Crestwood Advisors Group LLC’s holdings in Charles Schwab were worth $12,430,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its stake in shares of Charles Schwab by 26.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after acquiring an additional 40,275 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new position in Charles Schwab in the 1st quarter worth approximately $79,605,000. Independent Advisor Alliance raised its position in Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after purchasing an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after purchasing an additional 68,858 shares during the last quarter. Finally, PFG Investments LLC raised its position in shares of Charles Schwab by 10.2% during the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 550 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated 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 directly owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 65,866 shares of company stock worth $6,370,897 in the last quarter. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $93.84 on Wednesday. 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 stock has a market cap of $170.33 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The stock has a 50-day moving average of $94.16 and a 200-day moving average of $91.59. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab announced that its board has initiated a share repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.27 dividend. The ex-dividend date is Friday, November 14th. 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 25.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SCHW shares. Morgan Stanley boosted their target price on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the stock an “overweight” rating in a research note on Friday, July 18th. Finally, JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.45.

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.