Worth Asset Management LLC Makes New $1.01 Million Investment in The Charles Schwab Corporation $SCHW

Worth Asset Management LLC acquired a new position in The Charles Schwab Corporation (NYSE:SCHW) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,301 shares of the financial services provider’s stock, valued at approximately $1,007,000.

A number of other large investors also recently bought and sold shares of SCHW. Invesco Ltd. lifted its position in shares of Charles Schwab by 3.0% during the 4th quarter. Invesco Ltd. now owns 16,425,579 shares of the financial services provider’s stock valued at $1,641,080,000 after buying an additional 484,558 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Charles Schwab by 22.9% in the 1st quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock worth $1,518,913,000 after acquiring an additional 3,009,884 shares in the last quarter. Bank of America Corp DE raised its position in Charles Schwab by 3.5% during the first quarter. Bank of America Corp DE now owns 15,623,030 shares of the financial services provider’s stock worth $1,468,252,000 after acquiring an additional 530,191 shares during the period. Flossbach Von Storch SE acquired a new position in Charles Schwab during the second quarter worth $987,930,000. Finally, Janus Henderson Group PLC lifted its holdings in Charles Schwab by 17.9% during the fourth quarter. Janus Henderson Group PLC now owns 6,862,590 shares of the financial services provider’s stock valued at $685,645,000 after purchasing an additional 1,040,041 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SCHW. Bank of America lifted their target price on shares of Charles Schwab from $91.00 to $95.00 and gave the company an “underperform” rating in a research report on Monday. Morgan Stanley upped their price target on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Argus raised their price target on shares of Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Barclays lowered their price objective on Charles Schwab from $125.00 to $118.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets lowered Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 price objective for the company. in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Moderate Buy” and an average price target of $118.05.

Insider Activity at Charles Schwab

In other news, insider Nigel J. Murtagh sold 32,947 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $104.01, for a total transaction of $3,426,817.47. Following the completion of the sale, the insider owned 57,972 shares in the company, valued at $6,029,667.72. This trade represents a 36.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Peter J. Morgan III sold 6,952 shares of Charles Schwab stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total transaction of $709,312.56. The disclosure for this sale is available in the SEC filing. Insiders sold 645,582 shares of company stock valued at $69,553,935 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 1.3%

Charles Schwab stock traded down $1.27 during trading on Wednesday, reaching $95.53. 3,339,436 shares of the company were exchanged, compared to its average volume of 10,066,033. The Charles Schwab Corporation has a 52-week low of $83.96 and a 52-week high of $114.53. The company has a market capitalization of $165.20 billion, a P/E ratio of 17.37, a PEG ratio of 0.85 and a beta of 0.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.64 and a quick ratio of 0.64. The stock’s 50 day simple moving average is $106.18 and its two-hundred day simple moving average is $98.11.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The company had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the business earned $1.14 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities research analysts expect that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 23.27%.

About Charles Schwab

Charles Schwab Corporation (NYSE:SCHW) is a financial services company that provides brokerage, investment, banking and wealth management services to individual investors, employers, institutions and independent investment advisors. Its offerings include online and mobile trading, securities brokerage, retirement accounts, financial planning, portfolio management, banking products, research and access to mutual funds and exchange-traded funds.

The company operates through businesses including Schwab Brokerage, Schwab Wealth Advisory, Schwab Asset Management and Charles Schwab Bank.