USA Financial Formulas Buys Shares of 9,864 The Charles Schwab Corporation $SCHW

USA Financial Formulas bought a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,864 shares of the financial services provider’s stock, valued at approximately $900,000.

Several other hedge funds have also recently made changes to their positions in the company. Vigilare Wealth Management bought a new stake in shares of Charles Schwab in the second quarter valued at $915,000. Childress Capital Advisors LLC grew its position in shares of Charles Schwab by 36.9% in the second quarter. Childress Capital Advisors LLC now owns 4,896 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 1,319 shares in the last quarter. PFG Investments LLC grew its position in shares of Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 550 shares in the last quarter. LBP AM SA grew its position in shares of Charles Schwab by 251.7% in the second quarter. LBP AM SA now owns 164,623 shares of the financial services provider’s stock valued at $15,020,000 after purchasing an additional 117,817 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its position in shares of Charles Schwab by 58.3% in the second quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 19,000 shares of the financial services provider’s stock valued at $1,734,000 after purchasing an additional 7,000 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the sale, the insider 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 263,923 shares of company stock worth $25,932,955. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

SCHW opened at $92.22 on Thursday. The stock has a 50-day moving average price of $95.50 and a 200-day moving average price of $88.36. The Charles Schwab Corporation has a 12-month low of $62.41 and a 12-month high of $99.59. 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 stock has a market capitalization of $167.39 billion, a P/E ratio of 24.79, a PEG ratio of 0.94 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data 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 return on equity of 19.30% and a net margin of 33.68%.The firm had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the prior year, the business earned $0.73 EPS. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its board has authorized a share repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Charles Schwab Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target 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. Bank of America lifted their price target on Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a research report on Monday, July 21st. Truist Financial lifted their price target on Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Citigroup lifted their price target on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Piper Sandler lifted their price target on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Sixteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.95.

Charles Schwab Company 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.