RWA Wealth Partners LLC Has $17.81 Million Stock Position in The Charles Schwab Corporation $SCHW

RWA Wealth Partners LLC reduced its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 195,225 shares of the financial services provider’s stock after selling 5,590 shares during the quarter. RWA Wealth Partners LLC’s holdings in Charles Schwab were worth $17,812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC increased its position in Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock valued at $36,000 after buying an additional 220 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in Charles Schwab by 12.6% during the 1st quarter. Axxcess Wealth Management LLC now owns 14,864 shares of the financial services provider’s stock worth $1,164,000 after buying an additional 1,659 shares during the period. Leavell Investment Management Inc. lifted its position in shares of Charles Schwab by 2.0% in the 1st quarter. Leavell Investment Management Inc. now owns 12,055 shares of the financial services provider’s stock worth $944,000 after purchasing an additional 232 shares during the period. Finally, Allworth Financial LP grew its holdings in Charles Schwab by 4.0% during the 1st quarter. Allworth Financial LP now owns 33,131 shares of the financial services provider’s stock worth $2,630,000 after acquiring an additional 1,264 shares during the period. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The SEC filing for this sale provides additional information. Insiders sold 65,866 shares of company stock valued at $6,370,897 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 1.2%

Charles Schwab stock opened at $95.33 on Friday. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The stock has a fifty day moving average of $94.03 and a 200 day moving average of $91.76. The stock has a market cap of $173.05 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. 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 released its quarterly earnings results 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. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.Charles Schwab’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

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

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.27 dividend. The ex-dividend date of this dividend 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 presently 25.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. Barclays lifted their price target on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Citigroup increased their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.