Persistent Asset Partners Ltd Makes New $643,000 Investment in The Charles Schwab Corporation $SCHW

Persistent Asset Partners Ltd bought a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,043 shares of the financial services provider’s stock, valued at approximately $643,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Princeton Global Asset Management LLC bought a new stake in Charles Schwab in the second quarter valued at $25,000. RMG Wealth Management LLC bought a new position in Charles Schwab in the 2nd quarter worth $27,000. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Charles Schwab in the 2nd quarter worth about $32,000. Hoese & Co LLP lifted its position in shares of Charles Schwab by 131.6% in the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 200 shares during the period. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 1.0%

SCHW stock opened at $94.37 on Friday. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve 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 firm has a market cap of $167.70 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The business has a 50 day moving average of $94.06 and a 200 day moving average of $92.43.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has initiated a stock repurchase 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 repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a $0.27 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s payout ratio is presently 25.29%.

Insider Activity at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were 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 SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,168,454. This trade represents a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 68,938 shares of company stock valued at $6,671,953. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Barclays increased their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Truist Financial upped their target price on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. Finally, Citigroup upped their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $106.45.

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.