Secured Retirement Advisors LLC Lowers Holdings in The Charles Schwab Corporation $SCHW

Secured Retirement Advisors LLC decreased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 6.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,981 shares of the financial services provider’s stock after selling 812 shares during the quarter. Secured Retirement Advisors LLC’s holdings in Charles Schwab were worth $1,002,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Atwood & Palmer Inc. acquired a new position in Charles Schwab in the 1st quarter worth about $25,000. Westside Investment Management Inc. raised 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 purchasing an additional 150 shares during the period. RMG Wealth Management LLC acquired a new position in Charles Schwab in the 2nd quarter worth about $27,000. CBIZ Investment Advisory Services LLC raised its holdings in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares during the period. Finally, Stone House Investment Management LLC acquired a new position in Charles Schwab in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Truist Financial set a $112.00 price target on Charles Schwab in a report on Thursday, October 2nd. Barclays upped their price target on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Zacks Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft reduced 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, September 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.52.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman directly owned 590,734 shares in the company, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction that occurred on 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. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

NYSE:SCHW opened at $93.94 on Wednesday. The Charles Schwab Corporation has a one year low of $64.26 and a one year 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 stock has a market cap of $170.53 billion, a PE ratio of 25.25, a P/E/G ratio of 0.91 and a beta of 0.97. The stock has a 50 day moving average price of $95.21 and a 200 day moving average price of $88.86.

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, beating the consensus estimate 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 analysts’ expectations of $5.64 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio is presently 29.03%.

Charles Schwab declared that its Board of Directors has authorized a stock repurchase program on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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.