The Charles Schwab Corporation $SCHW Shares Sold by Power Wealth Management LLC

Power Wealth Management LLC cut its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,224 shares of the financial services provider’s stock after selling 1,450 shares during the quarter. Charles Schwab comprises approximately 1.1% of Power Wealth Management LLC’s investment portfolio, making the stock its 17th biggest holding. Power Wealth Management LLC’s holdings in Charles Schwab were worth $2,940,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 15.4% during 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 purchasing an additional 19,817,022 shares during the last quarter. Wellington Management Group LLP grew its position 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 worth $1,212,461,000 after purchasing an additional 13,262,309 shares during the period. Primecap Management Co. CA lifted its holdings 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 buying an additional 9,749,728 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 valued at $6,422,795,000 after buying an additional 8,954,248 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Charles Schwab in the first quarter worth about $440,699,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other Charles Schwab news, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $3,245,830.74. The trade was a 8.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,938 shares of company stock valued at $6,671,953 over the last ninety days. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SCHW shares. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. The Goldman Sachs Group reissued a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Truist Financial lifted their price objective on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. TD Cowen upped their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, JMP Securities restated a “market outperform” rating and set a $110.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Stock Down 2.2%

Shares of NYSE SCHW opened at $90.56 on Friday. The firm has a market cap of $160.92 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The company’s 50-day simple moving average is $93.94 and its 200-day simple moving average is $92.63. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. 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 released its quarterly earnings results 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. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. Equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has authorized a share repurchase 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 repurchase up to 11.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Charles Schwab Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

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.