New Age Alpha Advisors LLC Acquires Shares of 1,078 The Charles Schwab Corporation (NYSE:SCHW)

New Age Alpha Advisors LLC acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,078 shares of the financial services provider’s stock, valued at approximately $84,000.

A number of other large investors have also added to or reduced their stakes in SCHW. Sheaff Brock Investment Advisors LLC lifted its position in shares of Charles Schwab by 1.6% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 129 shares in the last quarter. HM Payson & Co. lifted its position in shares of Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 130 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Charles Schwab by 2.1% in the first quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 132 shares in the last quarter. Journey Strategic Wealth LLC lifted its position in shares of Charles Schwab by 3.1% in the first quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 135 shares in the last quarter. Finally, Premier Path Wealth Partners LLC boosted its stake in Charles Schwab by 1.8% during the first quarter. Premier Path Wealth Partners LLC now owns 7,817 shares of the financial services provider’s stock valued at $612,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.6%

Charles Schwab stock opened at $97.67 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $177.47 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a 1-year low of $61.16 and a 1-year high of $99.59. The business has a fifty day moving average price of $92.34 and a 200-day moving average price of $84.51.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.73 EPS. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has initiated a stock repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 29.03%.

Insider Buying and Selling at Charles Schwab

In related news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the transaction, the insider owned 58,999 shares in the company, valued at $5,776,592.09. The trade was a 29.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of Charles Schwab stock in a transaction dated Tuesday, July 29th. The shares were 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 owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. This represents a 22.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 308,016 shares of company stock worth $29,341,433. Insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Truist Financial upped their price objective on Charles Schwab from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Monday, July 21st. JMP Securities upped their price objective on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research report on Monday, July 21st. Cowen restated a “buy” rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Barclays upped their price objective on Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $99.35.

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.