Simplicity Wealth LLC Purchases 6,300 Shares of The Charles Schwab Corporation $SCHW

Simplicity Wealth LLC lifted its position in The Charles Schwab Corporation (NYSE:SCHW) by 134.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 10,996 shares of the financial services provider’s stock after acquiring an additional 6,300 shares during the period. Simplicity Wealth LLC’s holdings in Charles Schwab were worth $1,003,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SCHW. Atwood & Palmer Inc. bought a new stake in Charles Schwab in the first quarter worth about $25,000. Westside Investment Management Inc. lifted its stake in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 150 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 191 shares during the last quarter. Stone House Investment Management LLC purchased a new position in Charles Schwab during the 1st quarter valued at $31,000. Finally, Activest Wealth Management grew its position in Charles Schwab by 6,650.0% in the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 399 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Down 0.1%

NYSE:SCHW opened at $93.98 on Tuesday. The firm has a 50-day simple moving average of $95.29 and a 200-day simple moving average of $88.82. The Charles Schwab Corporation has a one year low of $64.16 and a one year high of $99.59. The firm has a market cap of $170.59 billion, a P/E ratio of 25.26, a P/E/G ratio of 0.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion for 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 19.30%. Charles Schwab’s revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal 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 repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,128 shares of company stock worth $26,232,077. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SCHW. Piper Sandler lifted their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Barclays raised their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. JMP Securities lifted their price objective on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. Citigroup upped their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and an average target price of $100.52.

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.