Wrapmanager Inc. Makes New $509,000 Investment in The Charles Schwab Corporation $SCHW

Wrapmanager Inc. acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 5,584 shares of the financial services provider’s stock, valued at approximately $509,000.

A number of other hedge funds have also modified their holdings of the stock. Princeton Global Asset Management LLC acquired a new stake in Charles Schwab in the 2nd quarter valued at $25,000. RMG Wealth Management LLC acquired a new position in Charles Schwab during the second quarter worth $27,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Charles Schwab during the second quarter valued at $32,000. Hoese & Co LLP lifted its holdings in shares of Charles Schwab by 131.6% during the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Finally, CBIZ Investment Advisory Services LLC boosted its stake in shares of Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 191 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the stock in a transaction on Wednesday, August 27th. The stock was 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 sold a total of 65,866 shares of company stock valued at $6,370,897 in the last ninety days. 6.30% of the stock is owned by insiders.

Charles Schwab Price Performance

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 stock has a market capitalization of $169.40 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The company’s 50 day simple moving average is $94.01 and its 200-day simple moving average is $92.25. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping 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 firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the company posted $0.71 EPS. Charles Schwab’s revenue was up 26.6% on a year-over-year basis. Sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its board has authorized a stock buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Charles Schwab Dividend Announcement

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

Analysts Set New Price Targets

SCHW has been the subject of several analyst reports. Truist Financial lifted their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. boosted their target price on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. BMO Capital Markets started coverage on Charles Schwab in a research report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price target on the stock. Finally, Barclays raised their price target on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” 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 assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, 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.