Brookwood Investment Group LLC acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,774 shares of the financial services provider's stock, valued at approximately $687,000.
A number of other hedge funds also recently added to or reduced their stakes in SCHW. Brighton Jones LLC lifted its holdings in shares of Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after purchasing an additional 19,195 shares during the period. Congress Wealth Management LLC DE purchased a new position in Charles Schwab during the 4th quarter worth $221,000. Modern Wealth Management LLC increased its stake in shares of Charles Schwab by 39.1% during the fourth quarter. Modern Wealth Management LLC now owns 6,921 shares of the financial services provider's stock worth $562,000 after acquiring an additional 1,945 shares during the period. TIAA Trust National Association increased its stake in shares of Charles Schwab by 5.0% during the fourth quarter. TIAA Trust National Association now owns 22,816 shares of the financial services provider's stock worth $1,689,000 after acquiring an additional 1,079 shares during the period. Finally, Zions Bancorporation N.A. raised its holdings in Charles Schwab by 49.2% during the fourth quarter. Zions Bancorporation N.A. now owns 988 shares of the financial services provider's stock worth $73,000 after purchasing an additional 326 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.
Charles Schwab Price Performance
Charles Schwab stock traded up $0.55 during mid-day trading on Friday, hitting $97.05. 9,105,646 shares of the company were exchanged, compared to its average volume of 8,598,255. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The Charles Schwab Corporation has a 12-month low of $61.15 and a 12-month high of $98.28. The business's 50 day simple moving average is $90.34 and its two-hundred day simple moving average is $82.81. The company has a market capitalization of $176.33 billion, a P/E ratio of 26.09, a PEG ratio of 0.93 and a beta of 0.93.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The firm had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter last year, the business posted $0.73 EPS. The firm's quarterly revenue was up 24.8% compared to the same quarter last year. Analysts forecast 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 will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, August 8th. Charles Schwab's dividend payout ratio is presently 29.03%.
Charles Schwab declared that its Board of Directors has approved a stock repurchase program on Thursday, July 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.
Analysts Set New Price Targets
SCHW has been the topic of several recent analyst reports. UBS Group boosted their target price on Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Piper Sandler upped their price objective on Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. William Blair downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Morgan Stanley restated an "overweight" rating and set a $117.00 target price (up from $83.00) on shares of Charles Schwab in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. increased 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $98.65.
Check Out Our Latest Stock Analysis on Charles Schwab
Insider Buying and Selling at Charles Schwab
In other Charles Schwab news, insider Nigel J. Murtagh sold 20,872 shares of Charles Schwab stock in a transaction that occurred on Wednesday, June 18th. The shares were 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 approximately $5,310,499.99. The trade was a 26.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 10,129 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the completion of the transaction, the insider owned 39,154 shares of the company's stock, valued at $3,524,251.54. This trade represents a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,313 shares of company stock valued at $10,264,091. 6.30% of the stock is owned by corporate insiders.
About Charles Schwab
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Free Report)
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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