First Horizon Advisors Inc. Grows Stake in The Charles Schwab Corporation $SCHW

First Horizon Advisors Inc. raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 60.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,295 shares of the financial services provider’s stock after buying an additional 1,997 shares during the quarter. First Horizon Advisors Inc.’s holdings in Charles Schwab were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Charles Schwab by 26.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after purchasing an additional 40,275 shares in the last quarter. Bain Capital Public Equity Management II LLC bought a new position in Charles Schwab in the first quarter worth approximately $79,605,000. Independent Advisor Alliance lifted 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 buying an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after acquiring an additional 68,858 shares in the last quarter. Finally, PFG Investments LLC increased its holdings in shares of Charles Schwab by 10.2% in the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 550 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $95.33 on Friday. 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 business has a fifty day moving average of $94.03 and a 200 day moving average of $91.76. The firm has a market capitalization of $173.05 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. 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 announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The company’s revenue was up 26.6% on a year-over-year basis. As a group, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s payout ratio is currently 25.29%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’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 value of $594,800.64. Following the completion of the transaction, the insider directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was 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. The trade was a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 65,866 shares of company stock valued at $6,370,897. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Morgan Stanley raised their price target on shares of Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Bank of America lifted their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Charles Schwab Company 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.