Robertson Stephens Wealth Management LLC Acquires 384 Shares of The Charles Schwab Corporation $SCHW

Robertson Stephens Wealth Management LLC grew its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,391 shares of the financial services provider’s stock after purchasing an additional 384 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Charles Schwab were worth $1,039,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc boosted its position in shares of Charles Schwab by 0.3% in the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after acquiring an additional 110 shares during the period. Traveka Wealth LLC boosted its position in shares of Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 117 shares during the period. Bank of Stockton boosted its position in shares of Charles Schwab by 1.2% in the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock valued at $967,000 after acquiring an additional 123 shares during the period. Sheaff Brock Investment Advisors LLC boosted its position in shares of Charles Schwab by 1.6% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 129 shares during the period. Finally, HM Payson & Co. raised its stake in Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 130 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the sale, the insider directly owned 58,999 shares of the company’s stock, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,128 shares of company stock worth $26,232,077. 6.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SCHW shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Zacks Research lowered Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Morgan Stanley decreased their price objective on Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. JMP Securities raised their price objective on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. Finally, William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

Charles Schwab Trading Down 2.1%

NYSE SCHW opened at $92.08 on Friday. The stock has a market capitalization of $167.15 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.91 and a beta of 0.97. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The business’s fifty day moving average is $94.97 and its 200-day moving average is $89.06.

Charles Schwab (NYSE:SCHW) last released its 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. The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

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

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders 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 was Friday, August 8th. Charles Schwab’s payout ratio is presently 29.03%.

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.