K.J. Harrison & Partners Inc Reduces Stock Position in The Charles Schwab Corporation $SCHW

K.J. Harrison & Partners Inc lowered its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 36.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,943 shares of the financial services provider's stock after selling 20,000 shares during the period. K.J. Harrison & Partners Inc's holdings in Charles Schwab were worth $3,188,000 at the end of the most recent reporting period.

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Several other institutional investors have also recently made changes to their positions in the stock. Pine Haven Investment Counsel Inc lifted its position in shares of Charles Schwab by 0.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider's stock worth $3,813,000 after acquiring an additional 110 shares in the last quarter. Principle Wealth Partners LLC lifted its position in shares of Charles Schwab by 2.0% during the second quarter. Principle Wealth Partners LLC now owns 5,890 shares of the financial services provider's stock worth $537,000 after acquiring an additional 113 shares in the last quarter. Traveka Wealth LLC raised its position in shares of Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider's stock worth $259,000 after buying an additional 117 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in Charles Schwab by 1.0% during the second quarter. Leavell Investment Management Inc. now owns 12,173 shares of the financial services provider's stock valued at $1,111,000 after buying an additional 118 shares during the period. Finally, Tlwm boosted its stake in Charles Schwab by 0.7% during the second quarter. Tlwm now owns 17,687 shares of the financial services provider's stock valued at $1,614,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Up 0.2%

SCHW opened at $94.62 on Monday. The company has a market cap of $171.75 billion, a P/E ratio of 22.16, a P/E/G ratio of 0.85 and a beta of 0.97. The business's 50-day moving average price is $94.29 and its 200-day moving average price is $91.35. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59.

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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 (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the previous year, the business earned $0.71 EPS. Charles Schwab's revenue was up 26.6% compared to the same quarter last year. On average, equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its Board of Directors has approved a share repurchase program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase 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 stock is undervalued.

Charles Schwab Announces Dividend

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

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 65,866 shares of company stock worth $6,370,897. Company insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SCHW. The Goldman Sachs Group reissued a "buy" rating and set a $114.00 price objective on shares of Charles Schwab in a research note on Friday, October 17th. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an "overweight" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $119.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, October 17th. Morgan Stanley dropped their price objective on Charles Schwab to $130.00 and set an "overweight" rating for the company in a research note on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $109.00 to $111.00 and gave the company an "outperform" rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus price target of $106.00.

Get Our Latest Analysis on SCHW

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.

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