The Charles Schwab Corporation $SCHW is Westbourne Investment Advisors Inc.’s 8th Largest Position

Westbourne Investment Advisors Inc. trimmed its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,344 shares of the financial services provider’s stock after selling 1,156 shares during the period. Charles Schwab accounts for 3.4% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 8th largest holding. Westbourne Investment Advisors Inc.’s holdings in Charles Schwab were worth $11,345,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Verus Capital Partners LLC increased its stake in Charles Schwab by 14.3% in the 2nd quarter. Verus Capital Partners LLC now owns 2,973 shares of the financial services provider’s stock worth $271,000 after buying an additional 373 shares in the last quarter. Fagan Associates Inc. boosted its stake in shares of Charles Schwab by 3.3% in the second quarter. Fagan Associates Inc. now owns 74,838 shares of the financial services provider’s stock worth $6,828,000 after acquiring an additional 2,415 shares during the period. Nwam LLC purchased a new stake in shares of Charles Schwab during the second quarter worth about $243,000. Ibex Wealth Advisors bought a new stake in Charles Schwab during the 2nd quarter valued at approximately $4,451,000. Finally, Vise Technologies Inc. bought a new stake in Charles Schwab during the 2nd quarter valued at approximately $1,765,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.3%

Shares of SCHW opened at $95.53 on Tuesday. The stock has a market capitalization of $173.41 billion, a PE ratio of 22.37, a P/E/G ratio of 0.85 and a beta of 1.02. The company’s fifty day moving average is $94.02 and its 200 day moving average is $92.08. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter last year, the business earned $0.71 earnings per share. Charles Schwab’s quarterly revenue was up 26.6% compared to the same quarter last year. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,866 shares of company stock valued at $6,370,897 over the last ninety days. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SCHW. BMO Capital Markets began coverage on Charles Schwab in a research note on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price target for the company. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Barclays raised their target price on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. TD Cowen lifted their price target on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Citigroup boosted their price target on shares of 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 issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

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.