Bryce Point Capital LLC Purchases New Position in The Charles Schwab Corporation $SCHW

Bryce Point Capital LLC purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,510 shares of the financial services provider’s stock, valued at approximately $868,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC bought a new position in Charles Schwab during the second quarter valued at approximately $25,000. RMG Wealth Management LLC bought a new position in Charles Schwab during the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC boosted its stake in Charles Schwab by 97.9% during the first 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 last quarter. Stone House Investment Management LLC bought a new position in Charles Schwab during the first quarter valued at approximately $31,000. Finally, Activest Wealth Management boosted its stake in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Cowen reissued a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Raymond James Financial reaffirmed an “outperform” rating and issued a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Barclays raised their price objective on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, BMO Capital Markets began coverage on Charles Schwab in a research note on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 65,866 shares of company stock valued at $6,370,897. Insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock opened at $93.18 on Tuesday. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $169.15 billion, a P/E ratio of 21.82, a P/E/G ratio of 0.85 and a beta of 0.97. The stock has a 50 day moving average price of $94.23 and a 200 day moving average price of $91.46.

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

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be 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 of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Charles Schwab declared that its board has approved a stock repurchase program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership 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.