Aurora Private Wealth Inc. Makes New $1.19 Million Investment in The Charles Schwab Corporation (NYSE:SCHW)

Aurora Private Wealth Inc. purchased a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 15,257 shares of the financial services provider's stock, valued at approximately $1,194,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $1,289,544,000. Kovitz Investment Group Partners LLC increased its stake in shares of Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after acquiring an additional 8,584,173 shares during the period. FMR LLC increased its holdings in shares of Charles Schwab by 69.4% in the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after buying an additional 3,974,940 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Charles Schwab by 742.0% in the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after buying an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA increased its holdings in shares of Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after buying an additional 3,216,000 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the transaction, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,850 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $87.57, for a total transaction of $249,574.50. Following the completion of the transaction, the insider now owns 15,219 shares in the company, valued at $1,332,727.83. This represents a 15.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,995 shares of company stock valued at $10,493,320. 6.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SCHW. Morgan Stanley upped their price target on Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Truist Financial lifted their price objective on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Finally, Cowen reaffirmed a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.40.

Charles Schwab Stock Up 0.6%

Shares of SCHW opened at $89.83 on Thursday. The firm has a market capitalization of $163.22 billion, a P/E ratio of 27.22, a P/E/G ratio of 0.96 and a beta of 0.94. The company has a 50-day simple moving average of $85.57 and a 200-day simple moving average of $80.28. The Charles Schwab Corporation has a 52 week low of $61.01 and a 52 week high of $90.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $0.74 earnings per share. On average, equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.20%. Charles Schwab's dividend payout ratio is 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.

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