The Charles Schwab Corporation $SCHW Shares Sold by Curi RMB Capital LLC

Curi RMB Capital LLC cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 11.8% during the 1st quarter, HoldingsChannel reports. The firm owned 177,527 shares of the financial services provider’s stock after selling 23,812 shares during the quarter. Curi RMB Capital LLC’s holdings in Charles Schwab were worth $13,897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SCHW. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab in the first quarter valued at about $25,000. Westside Investment Management Inc. boosted its holdings in Charles Schwab by 75.0% in the 1st 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 during the period. Stone House Investment Management LLC acquired a new stake in Charles Schwab in the first quarter valued at approximately $31,000. Activest Wealth Management raised its stake in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 399 shares during the period. Finally, WFA Asset Management Corp acquired a new position in shares of Charles Schwab during the first quarter worth $33,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $96.06 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a 1 year low of $61.16 and a 1 year high of $99.59. The firm’s 50-day simple moving average is $94.99 and its 200-day simple moving average is $86.13. The firm has a market cap of $174.36 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 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 business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the firm earned $0.73 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities analysts forecast 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 stock repurchase 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 buy up to 11.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Charles Schwab Announces Dividend

The company also recently declared 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 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s payout ratio is 29.03%.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of the business’s 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 of the company’s stock, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 298,214 shares of company stock worth $29,022,580. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on SCHW. Barclays raised their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, July 18th. William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Citigroup raised their target price on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Finally, JMP Securities increased their price target on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.60.

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.