Clear Creek Financial Management LLC Invests $228,000 in The Charles Schwab Corporation $SCHW

Clear Creek Financial Management LLC acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,498 shares of the financial services provider’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bain Capital Public Equity Management II LLC acquired a new position in shares of Charles Schwab during the first quarter worth about $79,605,000. Independent Advisor Alliance raised its holdings in Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after acquiring an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Charles Schwab by 6.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after acquiring an additional 68,858 shares in the last quarter. PFG Investments LLC raised its holdings in 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 in the last quarter. Finally, United Services Automobile Association raised its holdings in Charles Schwab by 14.1% during the first quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock worth $3,074,000 after acquiring an additional 4,869 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on SCHW. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Morgan Stanley dropped their target price on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. JMP Securities upped their target price on Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a report on Monday, July 21st. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.57.

Insider Buying and Selling

In related news, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. This represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock valued at $26,232,077 in the last ninety days. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Price Performance

Charles Schwab stock opened at $92.08 on Friday. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The stock’s 50 day moving average is $94.97 and its 200-day moving average is $89.13. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $167.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.89 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

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

Charles Schwab announced that its Board of Directors has initiated a share buyback program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.