PFG Advisors Has $182.02 Million Holdings in The Charles Schwab Corporation $SCHW

PFG Advisors lifted its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 65,501.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,994,936 shares of the financial services provider’s stock after purchasing an additional 1,991,895 shares during the quarter. Charles Schwab accounts for approximately 5.9% of PFG Advisors’ investment portfolio, making the stock its 3rd largest position. PFG Advisors owned 0.11% of Charles Schwab worth $182,018,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC raised its stake in shares of Charles Schwab by 26.8% in the second 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 period. Bain Capital Public Equity Management II LLC bought a new position in Charles Schwab during the 1st quarter valued at about $79,605,000. Independent Advisor Alliance raised its position in Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after purchasing an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Charles Schwab by 6.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after purchasing an additional 68,858 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 550 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.2%

NYSE:SCHW opened at $95.33 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59. The company has a 50-day moving average of $94.03 and a 200 day moving average of $91.87. The firm has a market cap of $173.05 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating 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 business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the previous year, the business posted $0.71 EPS. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio is currently 25.29%.

Charles Schwab declared that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

SCHW has been the topic of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price target on shares of Charles Schwab in a report on Friday, October 17th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, JPMorgan Chase & Co. boosted 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction 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 transaction, the insider directly owned 11,923 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 65,866 shares of company stock valued at $6,370,897. 6.30% of the stock is currently owned by corporate insiders.

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.