Maia Wealth LLC Raises Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Maia Wealth LLC grew its position in The Charles Schwab Corporation (NYSE:SCHW) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,050 shares of the financial services provider’s stock after buying an additional 878 shares during the quarter. Maia Wealth LLC’s holdings in Charles Schwab were worth $3,388,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SCHW. Vanguard Group Inc. raised its position in shares of Charles Schwab by 15.4% in the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after acquiring an additional 19,817,022 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Charles Schwab by 229.3% in the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after acquiring an additional 9,749,728 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock worth $814,545,000 after acquiring an additional 8,584,173 shares in the last quarter. Nuveen LLC bought a new position in shares of Charles Schwab in the 1st quarter worth $440,699,000. Finally, Marshall Wace LLP raised its position in shares of Charles Schwab by 742.0% in the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock worth $309,451,000 after acquiring an additional 3,684,640 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. UBS Group boosted their price target on Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Citigroup boosted their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Bank of America upped their target price on Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a research report on Monday, July 21st. Finally, TD Securities upped their target price on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $99.35.

Charles Schwab Stock Up 1.1%

Charles Schwab stock opened at $97.05 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The business’s 50-day simple moving average is $92.15 and its two-hundred day simple moving average is $84.40. The company has a market cap of $176.34 billion, a PE ratio of 26.09, a PEG ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a fifty-two week low of $61.16 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. The company’s revenue was up 24.8% compared to the same quarter last year. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a $0.27 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 29.03%.

Charles Schwab declared that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 173,876 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the sale, the chairman owned 590,734 shares in the company, valued at $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the sale, the insider owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 308,016 shares of company stock valued at $29,341,433. 6.30% of the stock is owned by insiders.

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.