Donoghue Forlines LLC Purchases New Shares in The Charles Schwab Corporation $SCHW

Donoghue Forlines LLC acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 30,572 shares of the financial services provider’s stock, valued at approximately $2,789,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC increased its position in shares of Charles Schwab by 26.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock worth $17,387,000 after acquiring an additional 40,275 shares during the period. Bain Capital Public Equity Management II LLC acquired a new position in Charles Schwab during the 1st quarter worth $79,605,000. Independent Advisor Alliance grew its stake in Charles Schwab by 13.8% during 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Charles Schwab by 6.2% during the 1st 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 period. Finally, PFG Investments LLC raised its position in Charles Schwab by 10.2% in the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 550 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the completion of the transaction, the insider directly owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 value of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 65,866 shares of company stock valued at $6,370,897 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Down 2.4%

SCHW stock opened at $95.33 on Friday. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $169.40 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The company has a fifty day moving average price of $94.01 and a 200 day moving average price of $92.25.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period last year, the business posted $0.71 EPS. The company’s revenue was up 26.6% on a year-over-year basis. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

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

Charles Schwab Announces Dividend

The company also recently declared 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is 25.29%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SCHW. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Bank of America boosted 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. TD Cowen raised their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Truist Financial increased their target price on Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. One investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab 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.