Jacobson & Schmitt Advisors LLC Decreases Stock Holdings in The Charles Schwab Corporation $SCHW

Jacobson & Schmitt Advisors LLC trimmed its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 163,720 shares of the financial services provider’s stock after selling 639 shares during the quarter. Charles Schwab comprises about 2.6% of Jacobson & Schmitt Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Jacobson & Schmitt Advisors LLC’s holdings in Charles Schwab were worth $14,938,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SCHW. Pine Haven Investment Counsel Inc raised its position in shares of Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock valued at $3,813,000 after purchasing an additional 110 shares during the last quarter. Principle Wealth Partners LLC raised its position in shares of Charles Schwab by 2.0% in the 2nd quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 113 shares during the last quarter. Traveka Wealth LLC raised its position in shares of Charles Schwab by 4.3% in the 2nd quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 117 shares during the last quarter. Leavell Investment Management Inc. raised its position in shares of Charles Schwab by 1.0% in the 2nd quarter. Leavell Investment Management Inc. now owns 12,173 shares of the financial services provider’s stock valued at $1,111,000 after purchasing an additional 118 shares during the last quarter. Finally, Tlwm raised its position in shares of Charles Schwab by 0.7% in the 2nd quarter. Tlwm now owns 17,687 shares of the financial services provider’s stock valued at $1,614,000 after purchasing an additional 120 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,866 shares of company stock valued at $6,370,897 in the last 90 days. 6.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SCHW shares. BMO Capital Markets started coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Bank of America increased their price target on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, Barclays increased their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $93.84 on Wednesday. The stock has a market capitalization of $170.33 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The firm’s 50 day simple moving average is $94.16 and its 200-day simple moving average is $91.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.14 billion for 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 revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. Analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its board has initiated a share repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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 dividend of $0.27 per share. 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 1.2%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

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.