The Charles Schwab Corporation $SCHW Shares Sold by Jacobson & Schmitt Advisors LLC

Jacobson & Schmitt Advisors LLC lowered its stake in The Charles Schwab Corporation (NYSE:SCHW) by 0.4% during the second quarter, Holdings Channel.com reports. The fund owned 163,720 shares of the financial services provider’s stock after selling 639 shares during the quarter. Charles Schwab comprises 2.6% of Jacobson & Schmitt Advisors LLC’s investment portfolio, making the stock its 13th biggest position. Jacobson & Schmitt Advisors LLC’s holdings in Charles Schwab were worth $14,938,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Charles Schwab by 12.2% during the 1st quarter. Concurrent Investment Advisors LLC now owns 15,388 shares of the financial services provider’s stock worth $1,205,000 after purchasing an additional 1,673 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Charles Schwab by 6.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,781,015 shares of the financial services provider’s stock worth $452,538,000 after purchasing an additional 351,198 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Charles Schwab by 307.2% during the 1st quarter. TD Private Client Wealth LLC now owns 19,808 shares of the financial services provider’s stock worth $1,551,000 after purchasing an additional 14,943 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in Charles Schwab by 37.4% during the 1st quarter. Brown Advisory Inc. now owns 6,454,052 shares of the financial services provider’s stock worth $505,223,000 after purchasing an additional 1,757,720 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.7%

Shares of SCHW opened at $93.84 on Wednesday. The firm has a market cap of $170.33 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 0.85 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. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The company’s 50-day moving average price is $94.16 and its 200 day moving average price is $91.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. The firm’s revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

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

Charles Schwab announced that its Board of Directors has initiated a share buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on SCHW shares. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Citigroup lifted their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Barclays lifted their price target on Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Finally, TD Cowen lifted their price target on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One research 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’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 sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The SEC filing for this sale provides additional information. Insiders have sold 65,866 shares of company stock worth $6,370,897 over the last three months. Company 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.