Delaney Dennis R Has $1.14 Million Holdings in The Charles Schwab Corporation $SCHW

Delaney Dennis R grew its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 70.0% in the 2nd quarter, Holdings Channel reports. The firm owned 12,500 shares of the financial services provider’s stock after acquiring an additional 5,145 shares during the quarter. Delaney Dennis R’s holdings in Charles Schwab were worth $1,140,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. lifted its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares during the period. RMG Wealth Management LLC bought a new stake in shares of Charles Schwab during the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its stake in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares during the period. Stone House Investment Management LLC bought a new stake in Charles Schwab in the first quarter worth approximately $31,000. Finally, Activest Wealth Management lifted its stake in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the period. 84.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SCHW. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Piper Sandler boosted 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. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. Finally, JMP Securities boosted their price objective on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and an average target price of $100.57.

Charles Schwab Stock Down 2.1%

Shares of NYSE:SCHW opened at $92.08 on Monday. The business’s 50 day moving average is $94.97 and its 200 day moving average is $89.19. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The stock has a market cap of $167.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.89 and a beta of 0.97. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data 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. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the business earned $0.73 EPS. The business’s revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

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

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction 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 transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,128 shares of company stock worth $26,232,077. Company insiders own 6.30% of the company’s stock.

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.