Baxter Bros Inc. Buys 18,510 Shares of The Charles Schwab Corporation $SCHW

Baxter Bros Inc. boosted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 22.4% in the second quarter, Holdings Channel reports. The institutional investor owned 101,004 shares of the financial services provider’s stock after purchasing an additional 18,510 shares during the period. Charles Schwab accounts for approximately 1.1% of Baxter Bros Inc.’s portfolio, making the stock its 24th biggest position. Baxter Bros Inc.’s holdings in Charles Schwab were worth $9,216,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bain Capital Public Equity Management II LLC bought a new stake in shares of Charles Schwab in the 1st quarter worth $79,605,000. Independent Advisor Alliance increased its holdings in shares of Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after purchasing an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after purchasing an additional 68,858 shares in the last quarter. PFG Investments LLC increased its holdings in shares of Charles Schwab by 10.2% in the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 550 shares in the last quarter. Finally, United Services Automobile Association increased its holdings in shares of Charles Schwab by 14.1% in the 1st quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock worth $3,074,000 after purchasing an additional 4,869 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday. Bank of America lifted their target price on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Barclays restated an “overweight” rating and issued a $114.00 price target on shares of Charles Schwab in a research note on Wednesday. Finally, Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.57.

Charles Schwab Stock Performance

NYSE:SCHW opened at $93.82 on Thursday. The stock has a 50-day simple moving average of $95.11 and a two-hundred day simple moving average of $88.89. The Charles Schwab Corporation has a 52-week low of $64.97 and a 52-week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $170.30 billion, a PE ratio of 25.22, a P/E/G ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. Charles Schwab’s revenue for the quarter was up 24.8% on a year-over-year basis. Analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.27 per share. 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 currently 29.03%.

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

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction dated 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. Insiders have sold a total of 267,128 shares of company stock valued at $26,232,077 in the last ninety days. 6.30% of the stock is currently owned by company insiders.

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.