Jupiter Topco LLC Invests $5 Million in The Charles Schwab Corporation $SCHW

Jupiter Topco LLC purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 22,078 shares of the financial services provider’s stock, valued at approximately $5,001,000.

A number of other large investors also recently bought and sold shares of SCHW. Dogwood Wealth Management LLC boosted its position in Charles Schwab by 99.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 123 shares in the last quarter. Compass Financial Management LLC purchased a new position in shares of Charles Schwab during the 2nd quarter valued at approximately $27,000. Scarborough Advisors LLC acquired a new position in shares of Charles Schwab in the 1st quarter valued at $29,000. McIlrath & Eck LLC boosted its holdings in Charles Schwab by 143.2% during the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock worth $32,000 after buying an additional 189 shares in the last quarter. Finally, Main Street Group LTD acquired a new stake in Charles Schwab during the first quarter valued at $33,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Down 0.2%

Shares of SCHW opened at $109.96 on Tuesday. The Charles Schwab Corporation has a 12-month low of $83.96 and a 12-month high of $114.53. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $103.78 and its 200 day moving average price is $96.39. The firm has a market cap of $190.16 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. The firm had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 14th. Charles Schwab’s dividend payout ratio is presently 23.27%.

Insider Buying and Selling

In other Charles Schwab news, Chairman Walter W. Bettinger sold 192,488 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $103.90, for a total transaction of $19,999,503.20. Following the completion of the transaction, the chairman owned 529,346 shares in the company, valued at $54,999,049.40. The trade was a 26.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dennis Howard sold 28,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $105.01, for a total value of $2,940,280.00. Following the sale, the insider owned 10,470 shares of the company’s stock, valued at approximately $1,099,454.70. The trade was a 72.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 649,582 shares of company stock valued at $69,948,015 over the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SCHW. Raymond James Financial reaffirmed an “outperform” rating and issued a $145.00 price objective on shares of Charles Schwab in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. TD Cowen boosted their price objective on Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Piper Sandler set a $118.00 price target on shares of Charles Schwab in a research note on Tuesday, July 21st. Finally, UBS Group set a $135.00 price objective on shares of Charles Schwab in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $121.17.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.