Signature Estate & Investment Advisors LLC Has $592,000 Holdings in The Charles Schwab Corporation $SCHW

Signature Estate & Investment Advisors LLC cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,489 shares of the financial services provider’s stock after selling 346 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Charles Schwab were worth $592,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SCHW. Vanguard Group Inc. raised its holdings 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 worth $11,616,380,000 after buying an additional 19,817,022 shares in the last quarter. Wellington Management Group LLP increased its holdings in Charles Schwab by 595.7% during 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 in the last quarter. Primecap Management Co. CA increased its holdings in Charles Schwab by 229.3% during 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 in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Charles Schwab during the 1st quarter valued at $440,699,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.8%

Shares of SCHW opened at $94.93 on Tuesday. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. 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 firm has a market capitalization of $172.32 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 0.88 and a beta of 0.97. The business’s fifty day moving average price is $94.62 and its two-hundred day moving average price is $89.94.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the company earned $0.71 EPS. The firm’s revenue was up 26.6% on a year-over-year basis. On average, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SCHW. Morgan Stanley dropped their price target on Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Truist Financial raised their price target on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price target on shares of Charles Schwab in a report on Friday. Finally, JPMorgan Chase & Co. raised their price target on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday. One equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction on 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 $58,388,148.56. This trade represents a 22.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 over the last three months. Insiders own 6.30% of the company’s stock.

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.