The Charles Schwab Corporation $SCHW Shares Sold by Courier Capital LLC

Courier Capital LLC trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 42,746 shares of the financial services provider’s stock after selling 841 shares during the quarter. Courier Capital LLC’s holdings in Charles Schwab were worth $3,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Charles Schwab by 15.4% in the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after purchasing an additional 19,817,022 shares during the period. Wellington Management Group LLP lifted its stake in shares of Charles Schwab by 595.7% in the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after purchasing an additional 13,262,309 shares during the period. Primecap Management Co. CA lifted its stake in shares of Charles Schwab by 229.3% in the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after purchasing an additional 9,749,728 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Charles Schwab by 12.3% in the 1st 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 Charles Schwab in the 1st quarter worth $440,699,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Trading Up 1.7%

NYSE SCHW opened at $93.50 on Tuesday. The firm’s 50-day moving average is $94.90 and its two-hundred day moving average is $89.30. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month 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 capitalization of $169.72 billion, a P/E ratio of 25.13, a PEG ratio of 0.89 and a beta of 0.97.

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

Charles Schwab announced that its board has authorized a share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Charles Schwab Announces Dividend

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

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the sale, the chairman owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% 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. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley cut their price target on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Finally, William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.