ProShare Advisors LLC Has $35 Million Holdings in The Charles Schwab Corporation $SCHW

ProShare Advisors LLC trimmed its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,647 shares of the financial services provider’s stock after selling 21,823 shares during the quarter. ProShare Advisors LLC’s holdings in Charles Schwab were worth $35,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Bryn Mawr Trust Advisors LLC raised its position in shares of Charles Schwab by 2.0% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock worth $501,000 after purchasing an additional 107 shares during the period. Pine Haven Investment Counsel Inc increased its stake in Charles Schwab by 0.3% during 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 in the last quarter. Principle Wealth Partners LLC increased its stake in Charles Schwab by 2.0% during 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 in the last quarter. Traveka Wealth LLC raised its holdings in Charles Schwab by 4.3% during the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after buying an additional 117 shares during the last quarter. Finally, 1ST Source Bank lifted its stake in shares of Charles Schwab by 0.5% in the second quarter. 1ST Source Bank now owns 23,680 shares of the financial services provider’s stock valued at $2,161,000 after buying an additional 117 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $96.05 on Wednesday. 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 cap of $174.35 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The firm’s 50-day simple moving average is $94.02 and its two-hundred day simple moving average is $92.19.

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, topping analysts’ consensus estimates 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 $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. Charles Schwab’s revenue was up 26.6% on a year-over-year basis. As a group, equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its board has authorized a stock 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 buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Charles Schwab Dividend Announcement

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

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale is available in the SEC filing. 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.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. TD Cowen lifted their price target on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Citigroup raised their target price on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Morgan Stanley upped their price target on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. increased their price target on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

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.