The Charles Schwab Corporation $SCHW Shares Sold by Verdence Capital Advisors LLC

by · The Markets Daily

Verdence Capital Advisors LLC lowered its position in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 4.8% in the second quarter, Holdings Channel.com reports. The fund owned 2,835 shares of the financial services provider’s stock after selling 144 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Charles Schwab were worth $259,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its stake in Charles Schwab by 26.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after purchasing an additional 40,275 shares during the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in Charles Schwab in the 1st quarter valued at about $79,605,000. Independent Advisor Alliance raised its holdings in Charles Schwab by 13.8% in the 1st quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after acquiring an additional 4,754 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after acquiring an additional 68,858 shares during the last quarter. Finally, PFG Investments LLC increased its holdings in shares of Charles Schwab by 10.2% in the second quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 550 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $96.06, for a total transaction of $316,037.40. Following the completion of the transaction, the insider owned 41,188 shares in the company, valued at $3,956,519.28. The trade was a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the transaction, the chairman owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. The trade was a 22.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Stock Down 1.0%

Charles Schwab stock opened at $93.38 on Friday. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a 50 day moving average price of $94.74 and a 200 day moving average price of $89.47. The company has a market capitalization of $169.51 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97.

Charles Schwab (NYSE:SCHW – Get Free Report) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. Research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its Board of Directors has initiated 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 buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab’s payout ratio is currently 29.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SCHW shares. Keefe, Bruyette & Woods increased their price target on Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Truist Financial set a $112.00 target price on Charles Schwab in a research note on Thursday, October 2nd. Barclays restated an “overweight” rating and set a $114.00 price objective on shares of Charles Schwab in a research report on Wednesday, October 8th. Piper Sandler restated a “neutral” rating on shares of Charles Schwab in a research report on Tuesday. Finally, JMP Securities raised their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the stock a “market outperform” rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.85.

Read Our Latest Stock Report on Charles Schwab

Charles Schwab Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW – Free Report).