Benin Management CORP Has $283,000 Holdings in The Charles Schwab Corporation $SCHW

Benin Management CORP cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 29.5% during the second quarter, HoldingsChannel.com reports. The firm owned 3,103 shares of the financial services provider’s stock after selling 1,300 shares during the quarter. Benin Management CORP’s holdings in Charles Schwab were worth $283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its stake in shares of Charles Schwab by 26.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after acquiring an additional 40,275 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in shares of Charles Schwab in the 1st quarter valued at about $79,605,000. Independent Advisor Alliance increased its stake in shares of Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after acquiring an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after acquiring an additional 68,858 shares during the last quarter. Finally, PFG Investments LLC increased its stake in shares of Charles Schwab by 10.2% in the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 550 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Truist Financial upped their price target on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday. JMP Securities reissued a “market outperform” rating and set a $110.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. BMO Capital Markets initiated coverage on Charles Schwab in a research note on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price for the company. Finally, TD Cowen increased their target price on Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Charles Schwab Price Performance

Shares of SCHW opened at $95.12 on Wednesday. The stock has a market capitalization of $172.66 billion, a P/E ratio of 22.28, a P/E/G ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The company has a 50 day moving average of $94.55 and a 200-day moving average of $89.98. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. The company had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Charles Schwab announced that its board has approved a stock repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the sale, the chairman directly owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. The trade was a 22.74% 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 currently owned by corporate insiders.

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.