AMI Asset Management Corp Trims Stake in The Charles Schwab Corporation (NYSE:SCHW)

AMI Asset Management Corp trimmed its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 722,571 shares of the financial services provider's stock after selling 23,824 shares during the period. Charles Schwab makes up 3.3% of AMI Asset Management Corp's portfolio, making the stock its 8th biggest holding. AMI Asset Management Corp's holdings in Charles Schwab were worth $56,563,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab in the first quarter valued at about $25,000. WFA Asset Management Corp bought a new stake in shares of Charles Schwab in the first quarter valued at about $33,000. Beacon Capital Management LLC lifted its stake in shares of Charles Schwab by 53.1% in the first quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock valued at $38,000 after buying an additional 169 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Charles Schwab in the fourth quarter valued at about $38,000. Finally, Atala Financial Inc bought a new stake in shares of Charles Schwab in the fourth quarter valued at about $41,000. 84.38% of the stock is currently owned by institutional investors.

Insider Activity at Charles Schwab

In related news, insider Jonathan M. Craig sold 47,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total value of $4,201,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank C. Herringer sold 3,592 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the transaction, the director now directly owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,995 shares of company stock valued at $10,493,320 over the last quarter. Corporate insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several research reports. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Friday, April 25th. Wells Fargo & Company reduced their target price on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Cowen reiterated a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Truist Financial increased their price target on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, Citigroup raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and increased their price target for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $89.40.

Charles Schwab Price Performance

Shares of NYSE SCHW traded up $0.58 during mid-day trading on Friday, hitting $90.02. 9,335,355 shares of the stock were exchanged, compared to its average volume of 9,509,581. The company has a market cap of $163.56 billion, a P/E ratio of 27.28, a PEG ratio of 0.96 and a beta of 0.94. The stock's fifty day simple moving average is $86.10 and its two-hundred day simple moving average is $80.39. 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 Charles Schwab Corporation has a twelve month low of $61.01 and a twelve month high of $90.86.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same quarter last year, the business posted $0.74 earnings per share. As a group, analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.

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.