Advisors Capital Management LLC Sells 1,208 Shares of The Charles Schwab Corporation $SCHW

Advisors Capital Management LLC cut its position in The Charles Schwab Corporation (NYSE:SCHW) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,579 shares of the financial services provider’s stock after selling 1,208 shares during the quarter. Advisors Capital Management LLC’s holdings in Charles Schwab were worth $12,188,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new position in shares of Charles Schwab in the 2nd quarter valued at about $25,000. RMG Wealth Management LLC bought a new position in Charles Schwab during the second quarter worth about $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in Charles Schwab during the second quarter worth approximately $32,000. Hoese & Co LLP raised its stake in Charles Schwab by 131.6% in the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after buying an additional 200 shares during the period. Finally, CBIZ Investment Advisory Services LLC lifted its position in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and set a $110.00 target price on shares of Charles Schwab in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Stock Performance

NYSE SCHW opened at $94.37 on Friday. The firm has a 50-day moving average price of $94.06 and a two-hundred day moving average price of $92.35. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The company has a market capitalization of $167.70 billion, a P/E ratio of 22.10, a P/E/G ratio of 0.85 and a beta of 1.02. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The company 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 21.26%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. Analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s dividend payout ratio is presently 25.29%.

Charles Schwab announced that its board has initiated a stock buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Charles Schwab

In related news, 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 transaction, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was 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. This represents a 8.44% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 68,938 shares of company stock valued at $6,671,953. 6.30% of the stock is owned by corporate insiders.

Charles Schwab 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.