Opinicus Capital Inc. Reduces Stock Position in The Charles Schwab Corporation $SCHW

Opinicus Capital Inc. trimmed its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 11.8% during the second quarter, HoldingsChannel.com reports. The firm owned 4,597 shares of the financial services provider’s stock after selling 613 shares during the period. Opinicus Capital Inc.’s holdings in Charles Schwab were worth $419,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Princeton Global Asset Management LLC bought a new position in Charles Schwab during the 2nd quarter valued at $25,000. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares during the last quarter. Stone House Investment Management LLC acquired a new position in Charles Schwab in the first quarter worth about $31,000. Finally, Activest Wealth Management increased its holdings in Charles Schwab by 6,650.0% in the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 3,072 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. This represents a 20.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were 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. In the last three months, insiders have sold 68,938 shares of company stock worth $6,671,953. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on SCHW. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Truist Financial boosted their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Morgan Stanley raised their price target on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.45.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $94.37 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 firm has a market capitalization of $167.70 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The business has a 50 day simple moving average of $94.06 and a 200 day simple moving average of $92.35.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. On average, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has authorized a stock buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given 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%.

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.