The Charles Schwab Corporation $SCHW Shares Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 58.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 14,313 shares of the financial services provider’s stock after acquiring an additional 5,277 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Charles Schwab were worth $1,306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCHW. Boston Trust Walden Corp boosted its holdings in Charles Schwab by 30.1% in the 2nd quarter. Boston Trust Walden Corp now owns 8,670 shares of the financial services provider’s stock valued at $791,000 after purchasing an additional 2,004 shares during the last quarter. TD Asset Management Inc lifted its holdings in Charles Schwab by 0.3% in the second quarter. TD Asset Management Inc now owns 749,390 shares of the financial services provider’s stock valued at $68,374,000 after acquiring an additional 2,228 shares during the last quarter. RFG Advisory LLC grew its position in Charles Schwab by 30.6% in the second quarter. RFG Advisory LLC now owns 14,299 shares of the financial services provider’s stock worth $1,305,000 after acquiring an additional 3,347 shares during the period. Acorn Financial Advisory Services Inc. ADV acquired a new stake in Charles Schwab during the second quarter worth $215,000. Finally, Elefante Mark B purchased a new stake in Charles Schwab in the second quarter valued at $633,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction that occurred on 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 owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,128 shares of company stock worth $26,232,077. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock opened at $93.39 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The firm has a market cap of $169.53 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. The company’s 50 day moving average is $94.83 and its two-hundred day moving average is $89.33.

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, 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 previous year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its board has authorized a share buyback plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Barclays reiterated an “overweight” rating and set a $114.00 price target on shares of Charles Schwab in a research report on Wednesday, October 8th. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. Finally, Morgan Stanley dropped their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.85.

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.