The Charles Schwab Corporation $SCHW Shares Purchased by Childress Capital Advisors LLC

Childress Capital Advisors LLC raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 36.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,896 shares of the financial services provider’s stock after purchasing an additional 1,319 shares during the period. Childress Capital Advisors LLC’s holdings in Charles Schwab were worth $447,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Charles Schwab by 15.4% during 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 purchasing an additional 19,817,022 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position 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 worth $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Northern Trust Corp increased its position 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 worth $1,365,227,000 after purchasing an additional 1,700,384 shares during the last quarter. Alliancebernstein L.P. increased its position in Charles Schwab by 16.0% during the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider’s stock worth $1,339,822,000 after purchasing an additional 2,355,309 shares during the last quarter. Finally, Invesco Ltd. increased its position 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 worth $1,220,107,000 after purchasing an additional 743,906 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of the 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 transaction, the insider directly owned 58,999 shares in the company, valued at $5,776,592.09. This represents a 29.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,923 shares of company stock valued at $25,932,955. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock opened at $95.45 on Wednesday. The company has a market capitalization of $173.26 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 0.96 and a beta of 0.96. The firm has a fifty day simple moving average of $95.56 and a 200-day simple moving average of $88.33. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a twelve month low of $62.41 and a twelve month high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion during 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 19.30%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. Equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its board has approved a share buyback plan on Thursday, July 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid 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 dividend payout ratio is 29.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SCHW shares. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an “overweight” rating in a research report on Friday, July 18th. Citigroup increased their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Raymond James Financial reissued an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Charles Schwab currently has a consensus 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.