Callan Family Office LLC Acquires 151,869 Shares of The Charles Schwab Corporation $SCHW

Callan Family Office LLC lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 224.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 219,563 shares of the financial services provider’s stock after acquiring an additional 151,869 shares during the quarter. Charles Schwab makes up about 0.6% of Callan Family Office LLC’s portfolio, making the stock its 23rd biggest holding. Callan Family Office LLC’s holdings in Charles Schwab were worth $20,033,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RMG Wealth Management LLC bought a new position in shares of Charles Schwab during the 2nd quarter worth approximately $27,000. Westside Investment Management Inc. boosted its stake in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in Charles Schwab by 97.9% in the 1st 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 bought a new stake in Charles Schwab in the 1st quarter valued at $31,000. Finally, Activest Wealth Management boosted its stake 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 purchasing an additional 399 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Activity at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was 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 directly 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. Insiders have sold 267,128 shares of company stock worth $26,232,077 in the last three months. Insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock opened at $94.01 on Friday. 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 Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The stock has a market capitalization of $170.65 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The stock has a fifty day moving average of $95.04 and a 200-day moving average of $88.99.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter in the previous year, the firm earned $0.73 EPS. Charles Schwab’s revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts expect 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 program on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued 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 1.1%. Charles Schwab’s payout ratio is 29.03%.

Analyst Ratings Changes

SCHW has been the subject of several recent research reports. Bank of America boosted their price target on Charles Schwab from $84.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.57.

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.