Johnson Investment Counsel Inc. Acquires 4,659 Shares of The Charles Schwab Corporation $SCHW

Johnson Investment Counsel Inc. boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 13.7% during the 2nd quarter, Holdings Channel reports. The fund owned 38,675 shares of the financial services provider’s stock after buying an additional 4,659 shares during the period. Johnson Investment Counsel Inc.’s holdings in Charles Schwab were worth $3,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Westside Investment Management Inc. grew its holdings in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 150 shares in the last quarter. RMG Wealth Management LLC bought a new position in Charles Schwab during the 2nd quarter worth about $27,000. CBIZ Investment Advisory Services LLC grew its holdings in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC bought a new position in Charles Schwab during the 1st quarter worth about $31,000. Finally, Activest Wealth Management grew its holdings in Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 399 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock worth $26,232,077 over the last ninety days. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $92.08 on Monday. The firm has a market capitalization of $167.15 billion, a P/E ratio of 24.75, a PEG ratio of 0.89 and a beta of 0.97. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $94.97 and a 200 day moving average price of $89.19. 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 announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. Charles Schwab’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its Board of Directors has authorized a stock buyback program on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SCHW shares. William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Citigroup increased their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Barclays reissued an “overweight” rating and set a $114.00 price target on shares of Charles Schwab in a research report on Wednesday. Finally, Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.57.

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.