Resonant Capital Advisors LLC Raises Stock Holdings in The Charles Schwab Corporation $SCHW

Resonant Capital Advisors LLC raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 8.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 35,219 shares of the financial services provider’s stock after acquiring an additional 2,741 shares during the period. Resonant Capital Advisors LLC’s holdings in Charles Schwab were worth $3,213,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC bought a new position in Charles Schwab during the second quarter valued at approximately $25,000. Westside Investment Management Inc. raised its stake in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. RMG Wealth Management LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the period. Finally, Stone House Investment Management LLC purchased a new position in shares of Charles Schwab in the 1st quarter worth $31,000. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an “overweight” rating in a research note on Friday, July 18th. Citigroup raised their price objective on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, October 20th. One investment 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 given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $106.00.

Insider Activity

In related news, insider Paul V. Woolway sold 3,205 shares of Charles Schwab stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. 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 insiders.

Charles Schwab Stock Down 0.2%

NYSE SCHW opened at $94.37 on Friday. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. 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 company has a market capitalization of $171.30 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The stock’s 50-day moving average price is $94.43 and its 200-day moving average price is $90.49.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is 25.29%.

Charles Schwab announced that its board has initiated a stock repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management 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.