The Charles Schwab Corporation $SCHW Stock Holdings Increased by Hager Investment Management Services LLC

Hager Investment Management Services LLC lifted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 4.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,015 shares of the financial services provider’s stock after purchasing an additional 1,362 shares during the quarter. Charles Schwab accounts for 1.6% of Hager Investment Management Services LLC’s portfolio, making the stock its 21st largest position. Hager Investment Management Services LLC’s holdings in Charles Schwab were worth $2,739,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SCHW. Notis McConarty Edward bought a new position in Charles Schwab during the second quarter valued at approximately $1,085,000. Maryland State Retirement & Pension System raised its position in Charles Schwab by 7.1% during the second quarter. Maryland State Retirement & Pension System now owns 82,951 shares of the financial services provider’s stock valued at $7,568,000 after acquiring an additional 5,473 shares in the last quarter. Dempze Nancy E bought a new position in Charles Schwab during the second quarter valued at approximately $680,000. Clear Creek Financial Management LLC bought a new position in Charles Schwab during the second quarter valued at approximately $228,000. Finally, Ignite Planners LLC bought a new position in Charles Schwab during the second quarter valued at approximately $218,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the sale, the insider owned 58,999 shares in the company, valued at $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the sale, the chairman owned 590,734 shares in the company, valued at $58,388,148.56. This represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock valued at $26,232,077 in the last three months. 6.30% of the stock is owned by insiders.

Charles Schwab Trading Down 0.2%

Shares of SCHW stock opened at $93.82 on Thursday. The Charles Schwab Corporation has a 1 year low of $64.97 and a 1 year high of $99.59. The firm’s fifty day simple moving average is $95.11 and its 200 day simple moving average is $88.89. The firm has a market capitalization of $170.30 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 0.91 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 announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Charles Schwab’s revenue was up 24.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its board has authorized 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 reacquire 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.

Charles Schwab Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SCHW shares. Piper Sandler raised their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. BMO Capital Markets started coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective on the stock. Barclays reaffirmed an “overweight” rating and set a $114.00 price objective on shares of Charles Schwab in a research report on Wednesday. William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. 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 company. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $100.57.

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.