Burney Co. Makes New $7 Million Investment in The Charles Schwab Corporation (NYSE:SCHW)

Burney Co. purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 89,401 shares of the financial services provider's stock, valued at approximately $6,998,000.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after acquiring an additional 19,195 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Charles Schwab in the 4th quarter valued at $441,000. LPL Financial LLC raised its holdings in Charles Schwab by 4.6% in the 4th quarter. LPL Financial LLC now owns 1,258,510 shares of the financial services provider's stock valued at $93,142,000 after acquiring an additional 55,118 shares in the last quarter. Congress Wealth Management LLC DE acquired a new position in Charles Schwab in the 4th quarter valued at $221,000. Finally, Modern Wealth Management LLC raised its holdings in Charles Schwab by 39.1% in the 4th quarter. Modern Wealth Management LLC now owns 6,921 shares of the financial services provider's stock valued at $562,000 after acquiring an additional 1,945 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Analyst Ratings Changes

SCHW has been the subject of several analyst reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Truist Financial boosted their price target on Charles Schwab from $100.00 to $107.00 and gave the stock a "buy" rating in a report on Monday. TD Securities boosted their price target on Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. UBS Group boosted their price target on Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Finally, Piper Sandler boosted their price target on Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. 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. Based on data from MarketBeat, Charles Schwab currently has an average rating of "Moderate Buy" and a consensus price target of $98.65.

Charles Schwab Trading Up 1.5%

Shares of Charles Schwab stock traded up $1.39 on Thursday, hitting $96.54. 9,042,432 shares of the company's stock traded hands, compared to its average volume of 10,285,248. The Charles Schwab Corporation has a one year low of $61.15 and a one year high of $97.50. 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 company has a fifty day moving average of $90.00 and a two-hundred day moving average of $82.48. The company has a market capitalization of $175.41 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The firm's revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.12%. Charles Schwab's payout ratio is 29.03%.

Insider Activity at Charles Schwab

In related news, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was 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 represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $90.95, for a total value of $299,225.50. Following the completion of the transaction, the insider owned 35,864 shares in the company, valued at approximately $3,261,830.80. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,313 shares of company stock worth $10,264,091 over the last quarter. 6.30% of the stock is owned by company insiders.

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.