The Charles Schwab Corporation $SCHW Stock Position Raised by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,159 shares of the financial services provider’s stock after acquiring an additional 1,999 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Charles Schwab were worth $30,124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SCHW. Vanguard Group Inc. boosted its position in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after buying an additional 19,817,022 shares during the period. Wellington Management Group LLP raised its holdings in shares of Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after acquiring an additional 13,262,309 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Charles Schwab by 229.3% during the first quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after acquiring an additional 9,749,728 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after acquiring an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Charles Schwab during the first quarter worth $440,699,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on SCHW shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Truist Financial set a $112.00 target price on Charles Schwab in a report on Thursday, October 2nd. Finally, Bank of America raised their target price on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.57.

Charles Schwab Trading Down 2.1%

Charles Schwab stock opened at $92.08 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The business’s 50-day simple moving average is $94.97 and its 200-day simple moving average is $89.19. The firm has a market capitalization of $167.15 billion, a PE ratio of 24.75, a PEG ratio of 0.89 and a beta of 0.97. 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 posted its quarterly earnings data 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 analyst estimates of $5.64 billion. During the same period in the previous year, the company posted $0.73 earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is presently 29.03%.

Charles Schwab declared that its Board of Directors has approved a stock repurchase 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 repurchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab 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 sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,128 shares of company stock valued at $26,232,077. Corporate insiders own 6.30% of the company’s stock.

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.