2,237 Shares in The Charles Schwab Corporation $SCHW Acquired by WP Advisors LLC

by · The Cerbat Gem

WP Advisors LLC acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,237 shares of the financial services provider’s stock, valued at approximately $204,000.

Several other hedge funds also recently modified their holdings of the company. Princeton Global Asset Management LLC acquired a new position in Charles Schwab in the 2nd quarter valued at $25,000. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab during the second quarter worth $27,000. CBIZ Investment Advisory Services LLC grew its position in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 191 shares during the period. Stone House Investment Management LLC acquired a new position in Charles Schwab in the first quarter valued at $31,000. Finally, Activest Wealth Management lifted its position in Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after buying an additional 399 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 65,866 shares of company stock worth $6,370,897. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Bank of America raised their target price on shares of Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Truist Financial boosted their target price on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. Raymond James Financial reaffirmed an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Finally, Barclays lifted their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.45.

View Our Latest Analysis on SCHW

Charles Schwab Price Performance

Charles Schwab stock opened at $95.33 on Friday. The firm has a fifty day moving average of $94.01 and a 200-day moving average of $92.25. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week 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 firm has a market capitalization of $169.40 billion, a P/E 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the company earned $0.71 EPS. The firm’s revenue was up 26.6% on a year-over-year basis. As a group, analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its board has initiated a stock buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

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.

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