The Charles Schwab Corporation $SCHW Shares Purchased by WBI Investments LLC

WBI Investments LLC increased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 216.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,137 shares of the financial services provider’s stock after buying an additional 11,725 shares during the quarter. WBI Investments LLC’s holdings in Charles Schwab were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the second quarter valued at about $25,000. RMG Wealth Management LLC purchased a new position in shares of Charles Schwab in the second quarter worth $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Charles Schwab during the second quarter worth $32,000. Hoese & Co LLP grew its holdings in shares of Charles Schwab by 131.6% during the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its position in shares of Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 191 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SCHW has been the topic of several research analyst reports. Morgan Stanley boosted their price target on Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. lifted their price objective on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. TD Cowen upped their target price on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Finally, Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. One equities research 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Stock Performance

SCHW opened at $92.00 on Tuesday. The firm’s fifty day simple moving average is $94.03 and its two-hundred day simple moving average is $92.58. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The company has a market cap of $163.47 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 0.85 and a beta of 1.02. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 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 company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period in the previous year, the business earned $0.71 EPS. Charles Schwab’s quarterly revenue was up 26.6% on a year-over-year basis. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is 25.29%.

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

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s 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 directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 68,938 shares of company stock valued at $6,671,953. Corporate insiders own 6.30% of the company’s stock.

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.