Affinity Capital Advisors LLC Sells 1,046 Shares of The Charles Schwab Corporation $SCHW

Affinity Capital Advisors LLC lessened its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 20.1% during the 2nd quarter, Holdings Channel reports. The firm owned 4,164 shares of the financial services provider’s stock after selling 1,046 shares during the period. Affinity Capital Advisors LLC’s holdings in Charles Schwab were worth $380,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bain Capital Public Equity Management II LLC purchased a new position in Charles Schwab during the 1st quarter valued at approximately $79,605,000. Independent Advisor Alliance grew its holdings in Charles Schwab by 13.8% during the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after buying an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Charles Schwab by 6.2% during the 1st 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 buying an additional 68,858 shares in the last quarter. United Services Automobile Association grew its holdings in Charles Schwab by 14.1% during the 1st quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock valued at $3,074,000 after buying an additional 4,869 shares in the last quarter. Finally, World Investment Advisors grew its holdings in Charles Schwab by 7.6% during the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider’s stock valued at $12,760,000 after buying an additional 11,505 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock opened at $90.99 on Wednesday. The Charles Schwab Corporation has a 52-week low of $62.41 and a 52-week high of $99.59. 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 firm has a market capitalization of $165.17 billion, a P/E ratio of 24.46, a P/E/G ratio of 0.91 and a beta of 0.96. The stock has a 50 day moving average price of $95.38 and a 200 day moving average price of $86.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results 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 analyst estimates of $5.64 billion. During the same period last year, the company earned $0.73 EPS. Charles Schwab’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

Charles Schwab announced that its Board of Directors has authorized a share buyback plan on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SCHW shares. Bank of America raised their price target on Charles Schwab from $83.00 to $84.00 and gave the company an “underperform” rating in a report on Monday, July 21st. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Citigroup raised their price target on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Deutsche Bank Aktiengesellschaft dropped their target price on Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday. Finally, JMP Securities lifted their target price on Charles Schwab from $106.00 to $110.00 and gave the stock 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 assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $100.00.

Insider Activity

In related news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $95.20, for a total transaction of $305,116.00. Following the completion of the sale, the insider directly owned 37,983 shares of the company’s stock, valued at approximately $3,615,981.60. This trade represents a 7.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value 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 disclosure for this sale can be found here. Insiders sold 267,213 shares of company stock worth $26,232,180 in the last three months. Corporate insiders own 6.30% of the company’s stock.

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.