VCI Wealth Management LLC Purchases 1,268 Shares of The Charles Schwab Corporation $SCHW

VCI Wealth Management LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 10.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,734 shares of the financial services provider’s stock after purchasing an additional 1,268 shares during the quarter. VCI Wealth Management LLC’s holdings in Charles Schwab were worth $1,253,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SCHW. Princeton Global Asset Management LLC acquired a new position in Charles Schwab during the second quarter worth about $25,000. Westside Investment Management Inc. raised its stake in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 150 shares in the last quarter. RMG Wealth Management LLC acquired a new position in Charles Schwab during the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC raised its stake in Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new position in Charles Schwab during the first quarter worth about $31,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the company’s stock in a transaction dated 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 directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SCHW. Raymond James Financial reissued an “outperform” rating and set a $99.00 target price on shares of Charles Schwab in a research note on Friday, July 18th. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research report on Friday. Barclays increased their target price on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Morgan Stanley decreased their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $94.93 on Tuesday. The firm has a market capitalization of $172.32 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97. The firm has a fifty day simple moving average of $94.62 and a two-hundred day simple moving average of $89.94. 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.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the prior year, the business posted $0.71 EPS. The business’s revenue was up 26.6% compared to the same quarter last year. Analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors 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 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s payout ratio is 25.29%.

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.