Venturi Wealth Management LLC Buys New Stake in The Charles Schwab Corporation $SCHW

Venturi Wealth Management LLC bought a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,683 shares of the financial services provider’s stock, valued at approximately $245,000.

Several other large investors have also recently bought and sold shares of the business. Pine Haven Investment Counsel Inc increased its holdings in 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 buying an additional 110 shares during the last quarter. Traveka Wealth LLC boosted its stake in 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 in the last quarter. Bank of Stockton boosted its stake in 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 in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in 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 in the last quarter. Finally, HM Payson & Co. boosted 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 acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SCHW shares. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday. JMP Securities upped their price objective on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. Truist Financial set a $112.00 price objective on shares of Charles Schwab in a research note on Thursday, October 2nd. Citigroup upped their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Finally, Morgan Stanley decreased their price objective on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $100.57.

Insider Activity

In related news, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the transaction, the insider directly owned 41,188 shares of the company’s stock, valued at $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman directly owned 590,734 shares of the company’s stock, valued at $58,388,148.56. This represents a 22.74% decrease in their ownership of the stock. 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 over the last ninety days. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Price Performance

Shares of SCHW opened at $92.08 on Friday. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The company has a market capitalization of $167.15 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The firm has a 50-day simple moving average of $94.97 and a 200-day simple moving average of $89.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

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, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

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

Charles Schwab declared that its board has initiated a stock repurchase program 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 programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.