Calton & Associates Inc. Invests $250,000 in The Charles Schwab Corporation $SCHW

Calton & Associates Inc. purchased a new position in The Charles Schwab Corporation (NYSE:SCHW) in the first quarter, Holdings Channel reports. The institutional investor purchased 3,197 shares of the financial services provider’s stock, valued at approximately $250,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after acquiring an additional 19,817,022 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after buying an additional 8,954,248 shares during the period. Northern Trust Corp boosted its stake in Charles Schwab by 10.8% during the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock valued at $1,365,227,000 after buying an additional 1,700,384 shares during the period. Invesco Ltd. boosted its stake in Charles Schwab by 5.0% during the first quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock valued at $1,220,107,000 after buying an additional 743,906 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Charles Schwab by 595.7% during the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock valued at $1,212,461,000 after buying an additional 13,262,309 shares during the period. 84.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SCHW. JMP Securities lifted their price objective on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Bank of America lifted their price objective on Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a research note on Monday, July 21st. Morgan Stanley lifted their price objective on Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, 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. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.60.

Charles Schwab Trading Down 1.2%

NYSE SCHW opened at $95.91 on Tuesday. The stock’s 50-day simple moving average is $94.73 and its two-hundred day simple moving average is $85.99. The Charles Schwab Corporation has a twelve month low of $61.16 and a twelve month high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $174.10 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating 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 business had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter last year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. Research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business 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. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s payout ratio is currently 29.03%.

Charles Schwab declared that its board has approved a stock buyback program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab 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 transaction, the insider owned 58,999 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 295,009 shares of company stock valued at $28,717,464. 6.30% of the stock is currently owned by corporate insiders.

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.