First Horizon Advisors Inc. Has $483,000 Stake in The Charles Schwab Corporation $SCHW

First Horizon Advisors Inc. raised its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 60.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,295 shares of the financial services provider’s stock after acquiring an additional 1,997 shares during the quarter. First Horizon Advisors Inc.’s holdings in Charles Schwab were worth $483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 19,195 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in shares of Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 220 shares during the last quarter. Axxcess Wealth Management LLC raised its position in shares of Charles Schwab by 12.6% in the 1st quarter. Axxcess Wealth Management LLC now owns 14,864 shares of the financial services provider’s stock valued at $1,164,000 after acquiring an additional 1,659 shares during the period. Leavell Investment Management Inc. raised its position in shares of Charles Schwab by 2.0% in the 1st quarter. Leavell Investment Management Inc. now owns 12,055 shares of the financial services provider’s stock valued at $944,000 after acquiring an additional 232 shares during the period. Finally, Allworth Financial LP boosted its stake in Charles Schwab by 4.0% during the 1st quarter. Allworth Financial LP now owns 33,131 shares of the financial services provider’s stock worth $2,630,000 after acquiring an additional 1,264 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.2%

Shares of Charles Schwab stock opened at $95.33 on Friday. The stock has a market capitalization of $173.05 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. 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 company has a 50-day simple moving average of $94.03 and a two-hundred day simple moving average of $91.76.

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 return on equity of 21.26% and a net margin of 35.93%.The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period last year, the business posted $0.71 EPS. The company’s revenue was up 26.6% compared to the same quarter last year. On average, analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has approved a stock buyback plan on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s payout ratio is 25.29%.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 65,866 shares of company stock valued at $6,370,897 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SCHW shares. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. One 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 issued a Sell rating to the company’s stock. According to MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus target price 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.