Apollon Wealth Management LLC Increases Holdings in The Charles Schwab Corporation $SCHW

Apollon Wealth Management LLC boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.1% during the second quarter, Holdings Channel reports. The firm owned 38,504 shares of the financial services provider’s stock after acquiring an additional 785 shares during the quarter. Apollon Wealth Management LLC’s holdings in Charles Schwab were worth $3,513,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Westside Investment Management Inc. increased its holdings in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the period. RMG Wealth Management LLC purchased a new position in Charles Schwab during the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its holdings in Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 191 shares during the period. Stone House Investment Management LLC purchased a new position in Charles Schwab during the 1st quarter valued at about $31,000. Finally, Activest Wealth Management increased its holdings in Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reduced their target price on Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. JMP Securities upped their target price on Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a report on Monday, July 21st. Finally, BMO Capital Markets began coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $4,851,552.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,128 shares of company stock valued at $26,232,077. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 2.1%

Shares of NYSE:SCHW opened at $92.08 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $94.97 and a two-hundred day simple moving average of $89.19. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The stock has a market capitalization of $167.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.89 and a beta of 0.97.

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

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is 29.03%.

Charles Schwab declared that its board has initiated a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is 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.