LRI Investments LLC Purchases 1,419 Shares of The Charles Schwab Corporation $SCHW

LRI Investments LLC boosted its position in The Charles Schwab Corporation (NYSE:SCHW) by 62.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,708 shares of the financial services provider’s stock after acquiring an additional 1,419 shares during the period. LRI Investments LLC’s holdings in Charles Schwab were worth $338,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SCHW. Brighton Jones LLC boosted its holdings in Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after buying an additional 19,195 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Charles Schwab by 28.2% during the first quarter. GAMMA Investing LLC now owns 27,122 shares of the financial services provider’s stock worth $2,123,000 after buying an additional 5,973 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in Charles Schwab by 16.7% during the first quarter. NorthCrest Asset Manangement LLC now owns 17,725 shares of the financial services provider’s stock worth $1,387,000 after buying an additional 2,537 shares during the last quarter. Krilogy Financial LLC boosted its holdings in Charles Schwab by 8.1% during the first quarter. Krilogy Financial LLC now owns 20,839 shares of the financial services provider’s stock worth $1,631,000 after buying an additional 1,558 shares during the last quarter. Finally, CVA Family Office LLC boosted its holdings in Charles Schwab by 3.0% during the first quarter. CVA Family Office LLC now owns 7,558 shares of the financial services provider’s stock worth $592,000 after buying an additional 223 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an “overweight” rating in a research report on Friday, July 18th. BMO Capital Markets assumed coverage on Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target on the stock. Finally, Barclays reaffirmed an “overweight” rating and set a $114.00 price target on shares of Charles Schwab in a research report on Wednesday. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $100.57.

Insiders Place Their Bets

In related news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the sale, the insider owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders have sold 267,128 shares of company stock worth $26,232,077 in the last 90 days. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 2.1%

Shares of Charles Schwab stock opened at $92.08 on Monday. The business’s 50 day simple moving average is $94.97 and its 200 day simple moving average is $89.19. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The firm has a market cap 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 company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter last year, the firm earned $0.73 EPS. Charles Schwab’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors 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 (DPR) is currently 29.03%.

Charles Schwab declared that its board has authorized a stock 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 generally a sign that the company’s leadership believes its shares are 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.