Evermay Wealth Management LLC Has $385,000 Stake in The Charles Schwab Corporation (NYSE:SCHW)

Evermay Wealth Management LLC boosted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 6.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,917 shares of the financial services provider’s stock after buying an additional 301 shares during the quarter. Evermay Wealth Management LLC’s holdings in Charles Schwab were worth $385,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SCHW. Atwood & Palmer Inc. bought a new stake in Charles Schwab during the first quarter valued at about $25,000. Westside Investment Management Inc. lifted its stake in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares during the period. WFA Asset Management Corp bought a new stake in shares of Charles Schwab in the first quarter valued at about $33,000. Cornerstone Planning Group LLC lifted its stake in shares of Charles Schwab by 90.5% in the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock valued at $36,000 after buying an additional 220 shares during the period. Finally, Beacon Capital Management LLC lifted its stake in shares of Charles Schwab by 53.1% in the first quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider’s stock valued at $38,000 after buying an additional 169 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Nigel J. Murtagh sold 20,872 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $1,878,688.72. Following the completion of the sale, the insider owned 58,999 shares of the company’s stock, valued at $5,310,499.99. This trade represents a 26.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. Insiders have sold a total of 116,313 shares of company stock valued at $10,264,091 over the last quarter. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

SCHW has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. JMP Securities increased their target price on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. Barclays increased their target price on shares of Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. The Goldman Sachs Group upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Friday, April 25th. Finally, UBS Group increased their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and a consensus target price of $98.65.

Charles Schwab Stock Performance

NYSE SCHW opened at $97.05 on Monday. The firm has a market cap of $176.33 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 0.93 and a beta of 0.93. The company has a 50 day moving average of $90.34 and a 200-day moving average of $82.95. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a 1-year low of $61.15 and a 1-year high of $98.28.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The company’s revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.73 earnings per share. On average, equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, August 8th. Charles Schwab’s dividend payout ratio is currently 29.03%.

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.