Kirtland Hills Capital Management LLC Invests $916,000 in The Charles Schwab Corporation $SCHW

Kirtland Hills Capital Management LLC bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, HoldingsChannel reports. The fund bought 9,923 shares of the financial services provider’s stock, valued at approximately $916,000.

Several other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Charles Schwab in the 4th quarter valued at about $1,994,189,000. Flossbach Von Storch SE purchased a new stake in Charles Schwab during the second quarter worth approximately $987,930,000. BlackRock Inc. purchased a new stake in Charles Schwab during the second quarter worth approximately $861,475,000. Bank of New York Mellon Corp boosted its holdings in Charles Schwab by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock valued at $1,518,913,000 after purchasing an additional 3,009,884 shares in the last quarter. Finally, Primecap Management Co. CA boosted its holdings in Charles Schwab by 9.7% in the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock valued at $2,325,512,000 after purchasing an additional 2,066,884 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SCHW. Raymond James Financial reissued an “outperform” rating and set a $145.00 price objective on shares of Charles Schwab in a report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. UBS Group set a $135.00 target price on shares of Charles Schwab in a research report on Monday, August 3rd. Barclays lifted their price target on shares of Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Argus boosted their price target on shares of Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.17.

Charles Schwab Price Performance

SCHW stock opened at $112.36 on Friday. The company has a market capitalization of $194.31 billion, a P/E ratio of 20.43, a PEG ratio of 0.86 and a beta of 0.76. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $112.40. The business has a 50 day simple moving average of $101.59 and a 200-day simple moving average of $96.15. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.52.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The business had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the company posted $1.14 EPS. The company’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 23.27%.

Insider Buying and Selling

In other news, insider Nigel J. Murtagh sold 32,947 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $104.01, for a total value of $3,426,817.47. Following the completion of the sale, the insider directly owned 57,972 shares of the company’s stock, valued at approximately $6,029,667.72. This represents a 36.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula A. Sneed sold 5,263 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $107.15, for a total transaction of $563,930.45. Following the sale, the director owned 91,711 shares of the company’s stock, valued at $9,826,833.65. This trade represents a 5.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 398,984 shares of company stock valued at $41,699,569 in the last quarter. Corporate insiders own 6.30% of the company’s stock.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.