SVB Wealth LLC Invests $2.72 Million in The Charles Schwab Corporation $SCHW

SVB Wealth LLC purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 29,837 shares of the financial services provider’s stock, valued at approximately $2,722,000.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC grew its position in shares of Charles Schwab by 26.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after buying an additional 40,275 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in Charles Schwab in the first quarter valued at approximately $79,605,000. Figure 8 Investment Strategies LLC acquired a new stake in Charles Schwab during the 2nd quarter valued at approximately $924,000. Independent Advisor Alliance raised its holdings in Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after purchasing an additional 4,754 shares during the last quarter. Finally, PFG Investments LLC lifted its position 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 worth $543,000 after purchasing an additional 550 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $94.24 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $167.46 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 0.83 and a beta of 0.96. The firm’s 50-day simple moving average is $93.68 and its two-hundred day simple moving average is $93.25. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate 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 net margin of 35.93% and a return on equity of 21.02%. The company’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. As a group, equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Insider Buying and Selling

In other news, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,168,454. This represents a 20.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,205 shares of the business’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 value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, 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. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. TD Cowen lifted their price target on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group reissued a “buy” rating and set a $114.00 price objective on shares of Charles Schwab in a report on Friday, October 17th. Finally, Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus target price of $107.11.

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.