The Charles Schwab Corporation $SCHW Shares Acquired by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC lifted its position in The Charles Schwab Corporation (NYSE:SCHW) by 33.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,125 shares of the financial services provider’s stock after purchasing an additional 1,532 shares during the period. Quotient Wealth Partners LLC’s holdings in Charles Schwab were worth $559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc boosted its position in Charles Schwab by 0.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after purchasing an additional 110 shares in the last quarter. Traveka Wealth LLC boosted its stake in Charles Schwab by 4.3% during the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after buying an additional 117 shares during the last quarter. Tlwm boosted its stake in Charles Schwab by 0.7% during the second quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock worth $1,614,000 after buying an additional 120 shares during the last quarter. Bank of Stockton grew its holdings in Charles Schwab by 1.2% in the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock valued at $967,000 after buying an additional 123 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in shares of Charles Schwab by 1.6% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 129 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 0.8%

NYSE:SCHW opened at $94.17 on Friday. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The stock’s fifty day moving average is $94.68 and its two-hundred day moving average is $89.66. The stock has a market capitalization of $170.93 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth 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 posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the previous year, the business earned $0.71 EPS. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. Research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s payout ratio is 25.29%.

Charles Schwab announced that its board has initiated a share repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SCHW shares. Bank of America upped their price objective on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. TD Cowen raised their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday. Barclays lifted their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday. Raymond James Financial reiterated an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Finally, Morgan Stanley reduced their target price on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. One equities research 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.70.

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $2,359,239.36. Following the completion of the transaction, the insider directly 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 sold 267,128 shares of company stock worth $26,232,077 over the last 90 days. Company insiders own 6.30% of the company’s stock.

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.