Portside Wealth Group LLC Buys Shares of 11,403 The Charles Schwab Co. (NYSE:SCHW)

Portside Wealth Group LLC purchased a new stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 11,403 shares of the financial services provider's stock, valued at approximately $893,000.

A number of other large investors have also added to or reduced their stakes in SCHW. Vanguard Group Inc. increased its position in Charles Schwab by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after buying an additional 1,187,384 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Charles Schwab by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock worth $2,279,742,000 after acquiring an additional 760,043 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Charles Schwab by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after acquiring an additional 265,708 shares during the last quarter. Norges Bank acquired a new position in shares of Charles Schwab during the fourth quarter valued at about $1,289,544,000. Finally, Northern Trust Corp raised its position in shares of Charles Schwab by 13.4% in the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after purchasing an additional 1,864,286 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Frank C. Herringer sold 3,592 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the transaction, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. The trade was a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul V. Woolway sold 8,614 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $80.00, for a total value of $689,120.00. Following the completion of the sale, the insider now directly owns 49,204 shares of the company's stock, valued at approximately $3,936,320. This represents a 14.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,608 shares of company stock worth $8,392,040 over the last 90 days. 6.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays dropped their target price on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. UBS Group upped their target price on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. TD Cowen upgraded Charles Schwab from a "hold" rating to a "buy" rating and raised their target price for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Truist Financial boosted their price target on Charles Schwab from $84.00 to $97.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Citigroup upgraded Charles Schwab from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $89.25.

Charles Schwab Stock Performance

SCHW stock traded up $0.06 during midday trading on Tuesday, hitting $88.27. 5,438,126 shares of the stock traded hands, compared to its average volume of 9,382,831. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $89.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The stock's fifty day simple moving average is $81.93 and its 200-day simple moving average is $79.67. The firm has a market cap of $160.39 billion, a P/E ratio of 29.52, a PEG ratio of 0.99 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same quarter in the previous year, the business earned $0.74 EPS. On average, analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.22%. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

About Charles Schwab

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.