BlackRock Inc. Takes Position in The Charles Schwab Corporation $SCHW

BlackRock Inc. bought a new position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 3,798,560 shares of the financial services provider's stock, valued at approximately $861,475,000. BlackRock Inc. owned about 0.22% of Charles Schwab as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Dogwood Wealth Management LLC boosted its stake in shares of Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 123 shares during the period. Scarborough Advisors LLC purchased a new stake in Charles Schwab during the 1st quarter worth approximately $29,000. McIlrath & Eck LLC grew its stake in shares of Charles Schwab by 143.2% in the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider's stock worth $32,000 after acquiring an additional 189 shares in the last quarter. Main Street Group LTD purchased a new stake in shares of Charles Schwab during the first quarter worth $33,000. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of Charles Schwab by 233.6% in the third quarter. Newbridge Financial Services Group Inc. now owns 357 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In other news, insider Nigel J. Murtagh sold 32,947 shares of the business's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $104.01, for a total value of $3,426,817.47. Following the completion of the sale, the insider directly owned 57,972 shares in the company, valued at approximately $6,029,667.72. The trade was a 36.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dennis Howard sold 28,000 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $105.01, for a total transaction of $2,940,280.00. Following the sale, the insider owned 10,470 shares of the company's stock, valued at approximately $1,099,454.70. The trade was a 72.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 398,984 shares of company stock worth $41,699,569 over the last quarter. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Price Performance

SCHW stock opened at $112.36 on Friday. The firm has a market cap of $194.31 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 0.86 and a beta of 0.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $112.40. The stock has a 50-day simple moving average of $101.59 and a 200-day simple moving average of $96.15.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. The business had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The business's quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. On average, equities analysts predict that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, August 14th. This represents a $1.28 annualized dividend and a yield of 1.1%. Charles Schwab's dividend payout ratio is presently 23.27%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler set a $118.00 price target on shares of Charles Schwab in a report on Tuesday, July 21st. Raymond James Financial reissued an "outperform" rating and issued a $145.00 price target on shares of Charles Schwab in a report on Wednesday, July 22nd. Citigroup reaffirmed a "market outperform" rating on shares of Charles Schwab in a report on Wednesday, July 22nd. TD Cowen upped their target price on Charles Schwab from $108.00 to $109.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Finally, BMO Capital Markets downgraded shares of Charles Schwab from an "outperform" rating to a "market perform" rating and set a $105.00 price objective on the stock. in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of "Moderate Buy" and a consensus price target of $121.17.

Charles Schwab 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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