Burney Co. Sells 64,422 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Burney Co. cut its Charles Schwab stake by 35.7% in the first quarter, selling 64,422 shares and leaving it with 116,065 shares valued at about $10.9 million.
• Insider selling was also notable, with Nigel J. Murtagh and Paul V. Woolway selling shares in April; insiders have sold 63,700 shares worth about $6.28 million over the past 90 days.
• Charles Schwab beat quarterly earnings and revenue estimates, reporting $1.43 EPS on $6.48 billion in revenue, while analysts currently rate the stock a Moderate Buy with an average price target of $116.

Burney Co. decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 35.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,065 shares of the financial services provider's stock after selling 64,422 shares during the quarter. Burney Co.'s holdings in Charles Schwab were worth $10,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Charles Schwab in the 4th quarter worth $1,994,189,000. Primecap Management Co. CA boosted its position in shares of Charles Schwab by 9.7% during the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider's stock valued at $2,325,512,000 after buying an additional 2,066,884 shares during the last quarter. Focus Partners Wealth increased its holdings in Charles Schwab by 716.5% in the 4th quarter. Focus Partners Wealth now owns 2,101,463 shares of the financial services provider's stock worth $209,948,000 after buying an additional 1,844,095 shares in the last quarter. Danske Bank A S purchased a new position in Charles Schwab in the 3rd quarter worth about $142,594,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Charles Schwab during the 1st quarter valued at about $129,140,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Nigel J. Murtagh sold 41,297 shares of the business's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $99.00, for a total transaction of $4,088,403.00. Following the completion of the transaction, the insider directly owned 57,972 shares in the company, valued at approximately $5,739,228. The trade was a 41.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul V. Woolway sold 7,942 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $98.00, for a total transaction of $778,316.00. Following the sale, the insider owned 29,866 shares in the company, valued at approximately $2,926,868. The trade was a 21.01% 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 sold 63,700 shares of company stock valued at $6,283,211 in the last 90 days. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Stock Up 3.7%

SCHW opened at $100.62 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $107.50. The company has a market capitalization of $174.99 billion, a PE ratio of 19.96, a PEG ratio of 0.89 and a beta of 0.77. The firm's 50 day simple moving average is $90.46 and its two-hundred day simple moving average is $95.16.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.04. Charles Schwab had a net margin of 37.99% and a return on equity of 23.05%. The business had revenue of $6.48 billion for the quarter, compared to analysts' expectations of $6.39 billion. During the same quarter last year, the company posted $1.04 EPS. The company's revenue was up 15.8% compared to the same quarter last year. Charles Schwab has set its FY 2026 guidance at 5.700-5.800 EPS. As a group, equities analysts forecast that The Charles Schwab Corporation will post 6.14 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.32 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.3%. Charles Schwab's dividend payout ratio is presently 25.40%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $128.00 price objective on shares of Charles Schwab in a report on Friday, May 15th. Keefe, Bruyette & Woods assumed coverage on shares of Charles Schwab in a research note on Wednesday, April 8th. They set an "outperform" rating and a $110.00 target price for the company. Jefferies Financial Group dropped their price target on Charles Schwab from $122.00 to $118.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Barclays lifted their price objective on Charles Schwab from $117.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, May 15th. Finally, Truist Financial lowered their target price on Charles Schwab from $122.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $116.00.

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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