Barnes Dennig Private Wealth Management LLC Takes $3.66 Million Position in The Charles Schwab Corporation (NYSE:SCHW)

Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 46,791 shares of the financial services provider's stock, valued at approximately $3,663,000. Charles Schwab makes up approximately 5.5% of Barnes Dennig Private Wealth Management LLC's investment portfolio, making the stock its 4th biggest position.

Several other institutional investors also recently modified their holdings of the business. Cary Street Partners Financial LLC bought a new position in shares of Charles Schwab during the 4th quarter valued at $1,455,000. Banco Santander S.A. grew its holdings in shares of Charles Schwab by 49.6% in the fourth 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 during the period. Graham Capital Management L.P. increased its position in Charles Schwab by 248.3% during the fourth quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock valued at $8,317,000 after acquiring an additional 80,112 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Charles Schwab by 17.2% in the first quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock valued at $15,631,000 after acquiring an additional 29,255 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Charles Schwab by 14.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 618,033 shares of the financial services provider's stock valued at $45,741,000 after acquiring an additional 76,954 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the sale, the director owned 105,654 shares in the company, valued at $9,303,891.24. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan M. Craig sold 47,500 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. Insiders sold a total of 116,615 shares of company stock worth $10,231,607 over the last ninety days. 6.30% of the stock is owned by company insiders.

Charles Schwab Price Performance

Charles Schwab stock traded up $0.28 during mid-day trading on Wednesday, hitting $91.45. The stock had a trading volume of 1,759,492 shares, compared to its average volume of 9,498,832. The Charles Schwab Corporation has a one year low of $61.01 and a one year high of $91.80. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $166.16 billion, a P/E ratio of 27.71, a P/E/G ratio of 0.98 and a beta of 0.93. The firm's 50 day moving average is $86.71 and its 200 day moving average is $80.51.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate 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 business earned $0.74 earnings per share. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.18%. Charles Schwab's dividend payout ratio is presently 32.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup upgraded Charles Schwab from a "neutral" rating to a "buy" rating and boosted their price target for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Truist Financial raised their price objective on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, June 16th. TD Securities upped their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. increased their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Finally, UBS Group lifted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.40.

Charles Schwab 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.