Andra AP fonden Grows Stake in The Charles Schwab Corporation $SCHW

Key Points

• Andra AP fonden increased its stake in Charles Schwab by 28.7% in the first quarter, buying an additional 57,306 shares and bringing its total to 256,672 shares worth about $24.1 million.
• Institutional ownership remains high, with hedge funds and other institutions holding 84.38% of Charles Schwab’s stock. Several other investors also modestly boosted their positions during the period.
• Analyst sentiment is broadly positive: the stock has a Moderate Buy consensus rating, with 15 Buy ratings, one Strong Buy, and an average price target of $117.65.

Andra AP fonden grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 28.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 256,672 shares of the financial services provider's stock after purchasing an additional 57,306 shares during the quarter. Andra AP fonden's holdings in Charles Schwab were worth $24,122,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Souders Financial Advisors lifted its position in shares of Charles Schwab by 2.3% during the fourth quarter. Souders Financial Advisors now owns 4,341 shares of the financial services provider's stock worth $434,000 after purchasing an additional 98 shares in the last quarter. Lantz Financial LLC increased its stake in Charles Schwab by 3.1% during the 4th quarter. Lantz Financial LLC now owns 3,243 shares of the financial services provider's stock worth $324,000 after buying an additional 99 shares during the period. Roberts Wealth Advisors LLC lifted its holdings in Charles Schwab by 0.5% in the 4th quarter. Roberts Wealth Advisors LLC now owns 22,961 shares of the financial services provider's stock worth $2,294,000 after buying an additional 105 shares in the last quarter. Essex Financial Services Inc. boosted its position in Charles Schwab by 0.8% in the 4th quarter. Essex Financial Services Inc. now owns 12,833 shares of the financial services provider's stock valued at $1,282,000 after buying an additional 105 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in Charles Schwab by 0.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 24,626 shares of the financial services provider's stock valued at $2,460,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SCHW. Jefferies Financial Group dropped their target price on Charles Schwab from $122.00 to $118.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Truist Financial reduced their price target on Charles Schwab from $122.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. Zacks Research upgraded Charles Schwab from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Argus set a $108.00 price objective on Charles Schwab in a report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Charles Schwab in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $117.65.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $102.92 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $107.50. The firm's 50-day simple moving average is $93.07 and its 200-day simple moving average is $95.34. The firm has a market cap of $178.99 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 0.85 and a beta of 0.77.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, May 8th. This represents a $1.28 annualized dividend and a yield of 1.2%. Charles Schwab's dividend payout ratio is presently 25.40%.

Insider Buying and Selling

In related news, Director Frank C. Herringer sold 2,520 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total transaction of $228,312.00. Following the sale, the director directly owned 177,508 shares of the company's stock, valued at approximately $16,082,224.80. This represents a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 2,000 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $100.01, for a total transaction of $200,020.00. Following the completion of the transaction, the insider directly owned 13,738 shares in the company, valued at $1,373,937.38. This represents a 12.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,520 shares of company stock worth $622,392. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Company Profile

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.

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