Fi3 FINANCIAL ADVISORS LLC Buys 450 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Fi3 FINANCIAL ADVISORS LLC increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 10.0% in the first quarter, Holdings Channel.com reports. The fund owned 4,930 shares of the financial services provider’s stock after purchasing an additional 450 shares during the period. Fi3 FINANCIAL ADVISORS LLC’s holdings in Charles Schwab were worth $386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cary Street Partners Financial LLC bought a new position in Charles Schwab during the fourth quarter valued at $1,455,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Charles Schwab by 6.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after purchasing an additional 68,858 shares during the last quarter. Graham Capital Management L.P. lifted its position in Charles Schwab by 248.3% during the fourth quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider’s stock valued at $8,317,000 after purchasing an additional 80,112 shares during the last quarter. World Investment Advisors lifted its position in Charles Schwab by 7.6% during the first quarter. World Investment Advisors now owns 163,007 shares of the financial services provider’s stock valued at $12,760,000 after purchasing an additional 11,505 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Charles Schwab by 17.2% during the first quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider’s stock valued at $15,631,000 after purchasing an additional 29,255 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Down 0.6%

NYSE SCHW opened at $96.47 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market capitalization of $175.28 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. The company’s 50-day simple moving average is $91.64 and its two-hundred day simple moving average is $84.02. The Charles Schwab Corporation has a one year low of $61.16 and a one year high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared 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 reacquire up to 11.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

Insider Buying and Selling at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total value of $889,280.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan M. Craig sold 47,500 shares of Charles Schwab stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 308,016 shares of company stock worth $29,341,433. 6.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on SCHW. UBS Group increased their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Raymond James Financial reiterated an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. JMP Securities raised their target price on shares of Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a report on Monday, July 21st. The Goldman Sachs Group upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Friday, April 25th. Finally, Truist Financial raised their target price on shares of Charles Schwab from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $99.35.

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.