Vestmark Advisory Solutions Inc. Sells 23,809 Shares of The Charles Schwab Corporation $SCHW

by · The Cerbat Gem

Vestmark Advisory Solutions Inc. reduced its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 24.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,272 shares of the financial services provider’s stock after selling 23,809 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Charles Schwab were worth $6,777,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SCHW. Brighton Jones LLC lifted its position in Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 19,195 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Charles Schwab by 90.5% in the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock worth $36,000 after buying an additional 220 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in shares of Charles Schwab by 12.6% in the first quarter. Axxcess Wealth Management LLC now owns 14,864 shares of the financial services provider’s stock worth $1,164,000 after buying an additional 1,659 shares during the period. Leavell Investment Management Inc. lifted its position in shares of Charles Schwab by 2.0% during the 1st quarter. Leavell Investment Management Inc. now owns 12,055 shares of the financial services provider’s stock valued at $944,000 after buying an additional 232 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Charles Schwab by 4.0% during the 1st quarter. Allworth Financial LP now owns 33,131 shares of the financial services provider’s stock valued at $2,630,000 after buying an additional 1,264 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Up 1.2%

Shares of Charles Schwab stock opened at $95.33 on Friday. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $94.03 and a 200-day moving average price of $91.76. The firm has a market cap of $173.05 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating 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 revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. Equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has approved a stock buyback program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. 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 25.29%.

Insider Buying and Selling

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares of the company’s stock, valued at $3,245,830.74. This trade represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 65,866 shares of company stock worth $6,370,897. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SCHW shares. Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the stock an “overweight” rating in a research note on Friday, July 18th. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Finally, TD Cowen lifted their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

Get Our Latest Stock Report on SCHW

About Charles Schwab

(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.

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