Means Investment CO. Inc. Sells 2,084 Shares of The Charles Schwab Corporation $SCHW

Means Investment CO. Inc. lessened its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,874 shares of the financial services provider’s stock after selling 2,084 shares during the quarter. Means Investment CO. Inc.’s holdings in Charles Schwab were worth $4,094,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SCHW. Pine Haven Investment Counsel Inc lifted its position in 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 buying an additional 110 shares in the last quarter. Traveka Wealth LLC raised its holdings in Charles Schwab by 4.3% during the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 117 shares in the last quarter. Bank of Stockton raised its holdings in Charles Schwab by 1.2% during the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock worth $967,000 after acquiring an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in Charles Schwab by 1.6% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 129 shares in the last quarter. Finally, HM Payson & Co. raised its holdings in Charles Schwab by 0.7% during the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock worth $1,509,000 after acquiring an additional 130 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 267,128 shares of company stock valued at $26,232,077. Company insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 2.1%

Shares of Charles Schwab stock opened at $92.08 on Friday. The business has a fifty day simple moving average of $94.97 and a two-hundred day simple moving average of $89.13. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The company has a market capitalization of $167.15 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW) last posted its 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. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. Charles Schwab’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.73 EPS. Research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has authorized a stock 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 buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Charles Schwab Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Morgan Stanley dropped their price target on shares of Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Finally, JMP Securities upped their target price on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.57.

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.