Cornerstone Advisors LLC Purchases 25,000 Shares of The Charles Schwab Corporation $SCHW

Cornerstone Advisors LLC lifted its position in The Charles Schwab Corporation (NYSE:SCHW) by 23.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 132,800 shares of the financial services provider’s stock after buying an additional 25,000 shares during the period. Cornerstone Advisors LLC’s holdings in Charles Schwab were worth $12,117,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SCHW. Princeton Global Asset Management LLC purchased a new position in Charles Schwab in the second quarter worth $25,000. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab in the 2nd quarter worth $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Charles Schwab during the second quarter worth $32,000. Hoese & Co LLP lifted its stake 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 worth $32,000 after buying an additional 200 shares during the period. Finally, CBIZ Investment Advisory Services LLC grew its holdings 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 valued at $30,000 after buying an additional 191 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab 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 owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction that occurred 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 three months, insiders have sold 68,938 shares of company stock valued at $6,671,953. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Trading Down 1.0%

Shares of NYSE:SCHW opened at $94.37 on Friday. The business’s 50 day moving average price is $94.06 and its 200-day moving average price is $92.43. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. 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 company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate 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 net margin of 35.93% and a return on equity of 21.26%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

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

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors 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 dividend payout ratio is 25.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SCHW shares. The Goldman Sachs Group restated a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Citigroup raised their price objective on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. JPMorgan Chase & Co. upped their target price on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. One research 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 stock. Based on data from MarketBeat.com, Charles Schwab presently has a consensus 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.