Advisor Resource Council Acquires New Stake in The Charles Schwab Corporation (NYSE:SCHW)

Advisor Resource Council bought a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,149 shares of the financial services provider's stock, valued at approximately $951,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cary Street Partners Financial LLC bought a new stake in Charles Schwab during the 4th quarter valued at $1,455,000. Banco Santander S.A. raised its position in shares of Charles Schwab by 49.6% in the 4th quarter. Banco Santander S.A. now owns 16,316 shares of the financial services provider's stock worth $1,208,000 after acquiring an additional 5,413 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Charles Schwab by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 10,438,852 shares of the financial services provider's stock worth $772,579,000 after acquiring an additional 60,683 shares in the last quarter. Graham Capital Management L.P. raised its position in shares of Charles Schwab by 248.3% in the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock worth $8,317,000 after acquiring an additional 80,112 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Charles Schwab by 17.2% in the 1st quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock worth $15,631,000 after acquiring an additional 29,255 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Cowen reissued a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. UBS Group boosted their price target on Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. JMP Securities reissued a "market outperform" rating and issued a $94.00 price target on shares of Charles Schwab in a research report on Monday, April 21st. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Finally, Piper Sandler boosted their target price on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $89.40.

Insider Transactions at Charles Schwab

In related news, insider Paul V. Woolway sold 8,614 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $80.00, for a total value of $689,120.00. Following the completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 20,872 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $1,878,688.72. Following the completion of the transaction, the insider now directly owns 58,999 shares of the company's stock, valued at $5,310,499.99. The trade was a 26.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,609 shares of company stock worth $11,182,440 over the last quarter. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Down 0.7%

Charles Schwab stock opened at $89.25 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The business's 50-day simple moving average is $84.81 and its two-hundred day simple moving average is $80.12. The company has a market cap of $162.16 billion, a PE ratio of 27.04, a PEG ratio of 0.95 and a beta of 0.94. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $90.60.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted 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. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the business earned $0.74 EPS. Equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.21%. Charles Schwab's payout ratio 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.

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