SVB Wealth LLC Makes New Investment in The Charles Schwab Corporation $SCHW

SVB Wealth LLC purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 29,837 shares of the financial services provider’s stock, valued at approximately $2,722,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SCHW. Princeton Global Asset Management LLC purchased a new position in shares of Charles Schwab in the second quarter worth $25,000. RMG Wealth Management LLC bought a new stake in Charles Schwab in the 2nd quarter worth about $27,000. Mid American Wealth Advisory Group Inc. purchased a new position in Charles Schwab in the 2nd quarter worth about $32,000. Hoese & Co LLP lifted its stake in Charles Schwab by 131.6% during the 2nd quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Finally, Evelyn Partners Asset Management Ltd purchased a new stake in shares of Charles Schwab during the 2nd quarter valued at about $33,000. 84.38% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 3,205 shares of the business’s 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 sale, the insider directly owned 34,778 shares of the company’s stock, valued at $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,168,454. This trade represents a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on SCHW shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. BMO Capital Markets began coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 price objective for the company. Morgan Stanley upped their target price on shares of Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $114.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.11.

Charles Schwab Trading Up 0.5%

SCHW opened at $94.24 on Tuesday. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The stock has a fifty day moving average price of $93.68 and a 200-day moving average price of $93.25. The firm has a market cap of $167.46 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 0.83 and a beta of 0.96. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The firm’s revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. As a group, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is 25.29%.

About Charles Schwab

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.