Advocate Group LLC Sells 1,575 Shares of The Charles Schwab Corporation $SCHW

Advocate Group LLC reduced its stake in The Charles Schwab Corporation (NYSE:SCHW) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,355 shares of the financial services provider’s stock after selling 1,575 shares during the period. Charles Schwab makes up approximately 1.9% of Advocate Group LLC’s holdings, making the stock its 11th largest holding. Advocate Group LLC’s holdings in Charles Schwab were worth $10,799,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. RMG Wealth Management LLC bought a new stake in Charles Schwab during the 2nd quarter worth approximately $27,000. Westside Investment Management Inc. increased its position in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares during the period. Stone House Investment Management LLC bought a new stake in shares of Charles Schwab during the first quarter worth approximately $31,000. Finally, Activest Wealth Management raised its position in shares of Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the sale, the chairman owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction 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 sold 267,128 shares of company stock worth $26,232,077 over the last ninety days. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SCHW shares. Piper Sandler upped their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday. Morgan Stanley reduced their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Truist Financial set a $112.00 price target on shares of Charles Schwab in a report on Thursday, October 2nd. Finally, William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $100.57.

Charles Schwab Price Performance

SCHW stock opened at $92.08 on Friday. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The firm has a market capitalization of $167.15 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. 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 company has a fifty day simple moving average of $94.97 and a two-hundred day simple moving average of $89.13.

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

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 reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued 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 was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

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.