Colton Groome Financial Advisors LLC Boosts Holdings in The Charles Schwab Corporation $SCHW

Colton Groome Financial Advisors LLC boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,735 shares of the financial services provider’s stock after acquiring an additional 420 shares during the period. Colton Groome Financial Advisors LLC’s holdings in Charles Schwab were worth $888,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Bain Capital Public Equity Management II LLC purchased a new position in Charles Schwab during the first quarter worth $79,605,000. Independent Advisor Alliance boosted its stake in shares of Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after acquiring an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position 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 worth $92,493,000 after purchasing an additional 68,858 shares in the last quarter. United Services Automobile Association increased its position 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 worth $3,074,000 after purchasing an additional 4,869 shares in the last quarter. Finally, World Investment Advisors raised its stake in Charles Schwab by 7.6% in the 1st 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. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

NYSE:SCHW opened at $94.75 on Friday. The company has a market cap of $171.99 billion, a P/E ratio of 25.47, a P/E/G ratio of 0.91 and a beta of 0.96. The firm’s 50 day moving average is $95.55 and its two-hundred day moving average is $87.79. The Charles Schwab Corporation has a fifty-two week low of $62.41 and a fifty-two week 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.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 EPS. Analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its board has authorized a stock buyback plan 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 reacquire up to 11.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Charles Schwab Dividend Announcement

The company 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. 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 dividend payout ratio (DPR) is 29.03%.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the transaction, the chairman owned 590,734 shares in the company, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the sale, the insider owned 41,188 shares of the company’s stock, valued at approximately $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,213 shares of company stock worth $26,232,180. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SCHW shares. Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and raised their price target for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Piper Sandler upped their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Bank of America raised their target price on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a research report on Monday, July 21st. Truist Financial boosted their price target on Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a report on Friday, August 15th. Finally, Barclays increased their price target on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Sixteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.00.

About Charles Schwab

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.