Asahi Life Asset Management CO. LTD. Grows Position in The Charles Schwab Corporation (NYSE:SCHW)

Asahi Life Asset Management CO. LTD. grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 122.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,980 shares of the financial services provider's stock after buying an additional 3,840 shares during the period. Asahi Life Asset Management CO. LTD.'s holdings in Charles Schwab were worth $546,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Charles Schwab during the first quarter worth $331,000. Apollon Wealth Management LLC boosted its holdings in shares of Charles Schwab by 5.6% during the first quarter. Apollon Wealth Management LLC now owns 37,719 shares of the financial services provider's stock worth $2,953,000 after purchasing an additional 1,985 shares during the last quarter. Hohimer Wealth Management LLC acquired a new stake in shares of Charles Schwab during the first quarter worth $725,000. Sigma Planning Corp boosted its holdings in shares of Charles Schwab by 58.1% during the first quarter. Sigma Planning Corp now owns 13,516 shares of the financial services provider's stock worth $1,058,000 after purchasing an additional 4,965 shares during the last quarter. Finally, Catalyst Financial Partners LLC boosted its holdings in shares of Charles Schwab by 3.5% during the first quarter. Catalyst Financial Partners LLC now owns 12,701 shares of the financial services provider's stock worth $994,000 after purchasing an additional 433 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Down 1.2%

Shares of NYSE SCHW opened at $91.96 on Monday. 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 firm has a market cap of $167.09 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 0.97 and a beta of 0.93. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $93.35. The stock's 50-day simple moving average is $88.53 and its 200-day simple moving average is $81.49.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data 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 18.31% and a net margin of 31.71%. During the same period in the previous year, the company earned $0.74 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.17%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.

Insider Transactions at Charles Schwab

In related news, insider Nigel J. Murtagh sold 20,872 shares of the business'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 sale, the insider directly owned 58,999 shares of the company's stock, valued at $5,310,499.99. The trade was a 26.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. Insiders sold 119,905 shares of company stock valued at $10,530,833 over the last 90 days. Corporate insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SCHW. JMP Securities reiterated a "market outperform" rating and issued a $94.00 target price on shares of Charles Schwab in a report on Monday, April 21st. UBS Group boosted their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Barclays boosted their price objective on Charles Schwab from $89.00 to $106.00 and gave the stock an "overweight" rating in a research note on Thursday. William Blair cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Finally, Morgan Stanley boosted their price objective on Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and an average target price of $92.70.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.