Secured Retirement Advisors LLC Lowers Stock Holdings in The Charles Schwab Corporation $SCHW

Secured Retirement Advisors LLC reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 6.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,981 shares of the financial services provider’s stock after selling 812 shares during the period. Secured Retirement Advisors LLC’s holdings in Charles Schwab were worth $1,002,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. NBT Bank N A NY boosted its position in shares of Charles Schwab by 16.7% during the second quarter. NBT Bank N A NY now owns 14,435 shares of the financial services provider’s stock worth $1,317,000 after buying an additional 2,070 shares during the period. Somerville Kurt F purchased a new position in shares of Charles Schwab during the second quarter worth $2,223,000. Sax Wealth Advisors LLC boosted its position in shares of Charles Schwab by 2.5% during the second quarter. Sax Wealth Advisors LLC now owns 8,794 shares of the financial services provider’s stock worth $802,000 after buying an additional 214 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Charles Schwab during the second quarter worth $245,000. Finally, Canopy Partners LLC boosted its position in shares of Charles Schwab by 1.7% during the second quarter. Canopy Partners LLC now owns 17,292 shares of the financial services provider’s stock worth $1,578,000 after buying an additional 296 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 0.1%

Charles Schwab stock opened at $93.94 on Wednesday. The Charles Schwab Corporation has a 1-year low of $64.26 and a 1-year high of $99.59. 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 stock has a market cap of $170.53 billion, a PE ratio of 25.25, a P/E/G ratio of 0.91 and a beta of 0.97. The stock’s fifty day moving average is $95.21 and its two-hundred day moving average is $88.86.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has initiated a share buyback program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s payout ratio is 29.03%.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Truist Financial set a $112.00 target price on Charles Schwab in a report on Thursday, October 2nd. Morgan Stanley decreased their target price on Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. JMP Securities lifted their target price on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. Finally, Barclays lifted their target price on Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $100.52.

About Charles Schwab

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.