Aberdeen Group plc Sells 146,422 Shares of The Charles Schwab Corporation $SCHW

Aberdeen Group plc decreased its position in The Charles Schwab Corporation (NYSE:SCHW) by 14.4% during the second quarter, Holdings Channel reports. The fund owned 873,201 shares of the financial services provider’s stock after selling 146,422 shares during the period. Aberdeen Group plc’s holdings in Charles Schwab were worth $79,671,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in SCHW. Westside Investment Management Inc. raised its stake in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares during the period. RMG Wealth Management LLC bought a new position in shares of Charles Schwab in the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after buying an additional 191 shares during the period. Stone House Investment Management LLC bought a new position in shares of Charles Schwab in the first quarter worth about $31,000. Finally, Activest Wealth Management raised its stake in shares of Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after buying an additional 399 shares during the period. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of several recent research reports. BMO Capital Markets initiated coverage on Charles Schwab in a research note on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective on the stock. Bank of America lifted their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Piper Sandler lifted their target price on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.57.

Charles Schwab Stock Performance

NYSE SCHW opened at $92.08 on Friday. The stock has a market capitalization of $167.15 billion, a PE ratio of 24.75, a P/E/G ratio of 0.89 and a beta of 0.97. The business has a 50 day simple moving average of $94.97 and a two-hundred day simple moving average of $89.13. 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 Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The business 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%.The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. On average, research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a 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 declared that its Board of Directors has approved a share buyback program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the transaction, the insider owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This represents a 29.00% 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 worth $26,232,077 over the last three months. 6.30% of the stock is owned by company insiders.

Charles Schwab 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.