JFS Wealth Advisors LLC Reduces Stock Position in The Charles Schwab Corporation $SCHW

JFS Wealth Advisors LLC cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,963 shares of the financial services provider’s stock after selling 288 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Charles Schwab were worth $2,278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bain Capital Public Equity Management II LLC purchased a new stake in Charles Schwab during the 1st quarter worth approximately $79,605,000. Independent Advisor Alliance increased its holdings in Charles Schwab by 13.8% during 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 during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Charles Schwab by 6.2% during 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 during the last quarter. PFG Investments LLC increased its holdings in Charles Schwab by 10.2% during 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 during the last quarter. Finally, United Services Automobile Association increased its holdings in Charles Schwab by 14.1% during 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 during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the transaction, the chairman owned 590,734 shares in the company, 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 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. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 in the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Trading Down 2.1%

NYSE:SCHW opened at $92.08 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The business has a 50 day simple moving average of $94.97 and a 200 day simple moving average of $89.06. The firm has a market capitalization of $167.15 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company 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 firm posted $0.73 EPS. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its board has approved a share buyback program on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders 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 yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s payout ratio is 29.03%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SCHW shares. Piper Sandler lifted their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Raymond James Financial reiterated an “outperform” rating and issued a $99.00 target price on shares of Charles Schwab in a research report on Friday, July 18th. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday. Finally, BMO Capital Markets started coverage on Charles Schwab in a research report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.