Rosenberg Matthew Hamilton Grows Stake in The Charles Schwab Corporation $SCHW

Rosenberg Matthew Hamilton grew its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 4.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,618 shares of the financial services provider’s stock after acquiring an additional 215 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Charles Schwab were worth $513,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SCHW. Westside Investment Management Inc. increased its holdings in shares of Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Charles Schwab by 97.9% in 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 during the period. Stone House Investment Management LLC acquired a new stake in shares of Charles Schwab in the 1st quarter valued at about $31,000. Finally, Activest Wealth Management boosted its position in shares of Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SCHW shares. Deutsche Bank Aktiengesellschaft decreased their target price on Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Barclays reissued an “overweight” rating and issued a $114.00 target price on shares of Charles Schwab in a research report on Wednesday, October 8th. 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and an average price target of $101.85.

Charles Schwab Trading Down 0.1%

Shares of SCHW stock opened at $93.39 on Wednesday. The business’s 50 day moving average is $94.83 and its two-hundred day moving average is $89.33. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The company has a market capitalization of $169.53 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s payout ratio is currently 29.03%.

Charles Schwab announced that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, 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 transaction of $2,359,239.36. Following the completion of the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider directly owned 41,188 shares of the company’s stock, 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. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 in the last 90 days. Insiders own 6.30% of the company’s stock.

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.