Financial Connections Group Inc. Grows Stake in The Charles Schwab Corporation $SCHW

Financial Connections Group Inc. boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 369.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,271 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the quarter. Financial Connections Group Inc.’s holdings in Charles Schwab were worth $115,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. increased its holdings 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 worth $27,000 after purchasing an additional 150 shares during the period. RMG Wealth Management LLC bought a new stake in Charles Schwab during the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its position 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 acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Charles Schwab during the 1st quarter valued at $31,000. Finally, Activest Wealth Management boosted its position 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 acquiring an additional 399 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

Shares of SCHW opened at $92.08 on Friday. The stock has a 50-day moving average of $94.97 and a two-hundred day moving average of $89.06. The Charles Schwab Corporation has a one year low of $65.88 and a one year 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 stock has a market cap of $167.15 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.91 and a beta of 0.97.

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

Charles Schwab declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Charles Schwab Announces Dividend

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

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the transaction, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the transaction, the chairman owned 590,734 shares of the company’s stock, valued at $58,388,148.56. The trade was a 22.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 267,128 shares of company stock worth $26,232,077. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler increased their target price on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Barclays reaffirmed an “overweight” rating and set a $114.00 target price on shares of Charles Schwab in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday. Finally, Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the stock an “overweight” rating in a research report on Friday, July 18th. One research 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 an average price target of $100.57.

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.