The Charles Schwab Corporation $SCHW Shares Purchased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 142.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,813 shares of the financial services provider’s stock after buying an additional 4,008 shares during the period. Transcend Capital Advisors LLC’s holdings in Charles Schwab were worth $622,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SCHW. Pine Haven Investment Counsel Inc raised its position in shares of Charles Schwab by 0.3% in 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 during the period. Principle Wealth Partners LLC grew its stake in shares of Charles Schwab by 2.0% during the second quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 113 shares in the last quarter. Traveka Wealth LLC grew its stake in Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 117 shares in the last quarter. Leavell Investment Management Inc. grew its stake in Charles Schwab by 1.0% in the second quarter. Leavell Investment Management Inc. now owns 12,173 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 118 shares in the last quarter. Finally, Tlwm grew its stake in Charles Schwab by 0.7% in the second quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock worth $1,614,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In other news, insider Paul V. Woolway sold 3,290 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the transaction, the insider owned 41,188 shares of the company’s stock, valued at approximately $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This represents a 34.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 69,156 shares of company stock valued at $6,686,934. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 1.1%

SCHW stock opened at $93.78 on Wednesday. The company has a 50-day moving average of $94.36 and a two-hundred day moving average of $90.87. The stock has a market capitalization of $170.23 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 0.85 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. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its board has initiated a stock buyback 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio is currently 25.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SCHW shares. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Morgan Stanley decreased 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. Truist Financial lifted their price objective on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, Raymond James Financial restated an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

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.