Vestmark Advisory Solutions Inc. Decreases Stock Position in The Charles Schwab Corporation $SCHW

Vestmark Advisory Solutions Inc. cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 24.3% in the second quarter, Holdings Channel reports. The institutional investor owned 74,272 shares of the financial services provider’s stock after selling 23,809 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Charles Schwab were worth $6,777,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SCHW. Bryn Mawr Trust Advisors LLC raised its stake in shares of Charles Schwab by 2.0% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after acquiring an additional 107 shares during the period. Princeton Capital Management LLC purchased a new position in shares of Charles Schwab during the 2nd quarter worth about $429,000. Soltis Investment Advisors LLC bought a new position in Charles Schwab during the 2nd quarter valued at about $426,000. Achmea Investment Management B.V. grew its holdings in Charles Schwab by 9.8% during the 2nd quarter. Achmea Investment Management B.V. now owns 69,625 shares of the financial services provider’s stock valued at $6,353,000 after purchasing an additional 6,230 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its position in Charles Schwab by 386.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 705 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 560 shares during the period. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SCHW. Cowen restated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. 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. Morgan Stanley raised their price target on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 price objective on shares of Charles Schwab in a research report on Friday, October 17th. Finally, Citigroup increased their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Trading Up 1.2%

Shares of NYSE SCHW opened at $95.33 on Friday. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The firm 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 business has a fifty day simple moving average of $94.03 and a two-hundred day simple moving average of $91.76. 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 results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 EPS. Analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its board has initiated a stock 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.27 per share. 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 dividend payout ratio (DPR) is 25.29%.

Insider Activity

In related news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab 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 transaction, the insider directly owned 34,778 shares of the company’s stock, 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 SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 6,144 shares of the company’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 sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 65,866 shares of company stock worth $6,370,897. 6.30% of the stock is currently owned by corporate insiders.

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.