Linden Thomas Advisory Services LLC Decreases Stake in The Charles Schwab Corporation $SCHW

Linden Thomas Advisory Services LLC reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 16.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,713 shares of the financial services provider’s stock after selling 547 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Charles Schwab were worth $248,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new stake in shares of Charles Schwab during the 2nd quarter worth $25,000. RMG Wealth Management LLC purchased a new stake in shares of Charles Schwab during the 2nd quarter worth $27,000. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Charles Schwab during the 2nd quarter worth $32,000. Westside Investment Management Inc. raised its stake in shares of 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 buying an additional 150 shares during the last quarter. Finally, Hoese & Co LLP raised its stake in shares of Charles Schwab by 131.6% during the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after buying an additional 200 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Bank of America boosted their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 have sold a total of 69,156 shares of company stock worth $6,686,934 in the last three months. Company insiders own 6.30% of the company’s stock.

Charles Schwab Trading Up 0.4%

NYSE SCHW opened at $94.76 on Tuesday. The company has a market cap of $172.01 billion, a P/E ratio of 22.19, a P/E/G ratio of 0.85 and a beta of 0.97. 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 company has a 50-day moving average of $94.40 and a 200-day moving average of $90.73.

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

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is presently 25.29%.

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

Charles Schwab 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.