Blue Trust Inc. Has $1.29 Million Stock Position in The Charles Schwab Corporation $SCHW

Blue Trust Inc. raised its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 28.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,179 shares of the financial services provider’s stock after buying an additional 3,179 shares during the quarter. Blue Trust Inc.’s holdings in Charles Schwab were worth $1,294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pine Haven Investment Counsel Inc grew its holdings in shares of Charles Schwab by 0.3% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after purchasing an additional 110 shares in the last quarter. Traveka Wealth LLC grew its holdings in shares of Charles Schwab by 4.3% during the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 117 shares in the last quarter. Bank of Stockton grew its holdings in shares of Charles Schwab by 1.2% during the 2nd quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock worth $967,000 after purchasing an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Charles Schwab by 1.6% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 129 shares in the last quarter. Finally, HM Payson & Co. grew its holdings in shares of Charles Schwab by 0.7% during the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the transaction, the insider owned 58,999 shares in the company, valued at $5,776,592.09. This represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock valued at $26,232,077 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

NYSE:SCHW opened at $92.08 on Friday. The firm has a market cap of $167.15 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. 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’s 50-day moving average price is $94.97 and its two-hundred day moving average price is $89.06.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the business earned $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, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

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

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. 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 is presently 29.03%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SCHW shares. Bank of America lifted their price objective on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. William Blair lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday. Finally, Raymond James Financial reiterated an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. One investment 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

About Charles Schwab

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.