Castleark Management LLC Makes New $8.18 Million Investment in The Charles Schwab Corporation $SCHW

Castleark Management LLC bought a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,045 shares of the financial services provider’s stock, valued at approximately $8,175,000.

Other institutional investors have also recently made changes to their positions in the company. Dogwood Wealth Management LLC grew its holdings in Charles Schwab by 99.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Compass Financial Management LLC purchased a new position in shares of Charles Schwab during the second quarter valued at approximately $27,000. Scarborough Advisors LLC purchased a new position in shares of Charles Schwab during the first quarter valued at approximately $29,000. McIlrath & Eck LLC grew its stake in shares of Charles Schwab by 143.2% during the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock valued at $32,000 after buying an additional 189 shares during the last quarter. Finally, Main Street Group LTD purchased a new stake in shares of Charles Schwab in the first quarter worth approximately $33,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW opened at $112.43 on Wednesday. The company has a market capitalization of $194.43 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 0.85 and a beta of 0.76. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52. The Charles Schwab Corporation has a 12-month low of $83.96 and a 12-month high of $114.53. The business’s fifty day simple moving average is $102.42 and its 200-day simple moving average is $96.22.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities research analysts anticipate that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.32 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s payout ratio is currently 23.27%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Argus raised their price target on Charles Schwab from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. TD Cowen lifted their target price on Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. BMO Capital Markets lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 target price for the company. in a research note on Monday, July 20th. Wolfe Research restated an “outperform” rating and issued a $127.00 price target on shares of Charles Schwab in a report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $121.17.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,778 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $109.01, for a total value of $2,701,049.78. Following the completion of the sale, the insider owned 57,972 shares of the company’s stock, valued at approximately $6,319,527.72. This represents a 29.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter W. Bettinger sold 93,408 shares of Charles Schwab stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $104.64, for a total transaction of $9,774,213.12. Following the transaction, the chairman directly owned 529,346 shares in the company, valued at approximately $55,390,765.44. The trade was a 15.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 398,984 shares of company stock worth $41,699,569. Insiders own 6.30% of the company’s stock.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.