The Charles Schwab Corporation (NYSE:SCHW) Shares Sold by Cohen Capital Management Inc.

Cohen Capital Management Inc. reduced its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,460 shares of the financial services provider's stock after selling 8,200 shares during the quarter. Charles Schwab comprises approximately 3.0% of Cohen Capital Management Inc.'s holdings, making the stock its 7th largest position. Cohen Capital Management Inc.'s holdings in Charles Schwab were worth $17,258,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab in the 1st quarter worth approximately $25,000. Westside Investment Management Inc. boosted its position in shares of Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after purchasing an additional 150 shares in the last quarter. WFA Asset Management Corp bought a new stake in shares of Charles Schwab in the 1st quarter worth approximately $33,000. Cornerstone Planning Group LLC boosted its position in shares of Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock worth $36,000 after purchasing an additional 220 shares in the last quarter. Finally, Beacon Capital Management LLC boosted its position in shares of Charles Schwab by 53.1% in the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock worth $38,000 after purchasing an additional 169 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Up 2.0%

Shares of NYSE:SCHW traded up $1.86 during trading on Thursday, reaching $93.12. The company's stock had a trading volume of 12,569,078 shares, compared to its average volume of 9,359,607. 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 Charles Schwab Corporation has a 12 month low of $61.15 and a 12 month high of $93.43. The firm's 50 day simple moving average is $89.21 and its two-hundred day simple moving average is $81.89. The stock has a market capitalization of $169.19 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same quarter last year, the firm earned $0.74 earnings per share. On average, research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 10,129 shares of Charles Schwab 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 transaction, the insider directly owned 39,154 shares of the company's stock, valued at approximately $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the transaction, the director directly owned 105,654 shares in the company, valued at $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,905 shares of company stock valued at $10,530,833 over the last quarter. 6.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on SCHW. Piper Sandler upped their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday. Morgan Stanley reaffirmed an "overweight" rating and issued a $117.00 price objective (up from $83.00) on shares of Charles Schwab in a research report on Tuesday. TD Securities upped their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Citigroup reiterated an "outperform" rating on shares of Charles Schwab in a research note on Monday. Finally, UBS Group boosted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $95.60.

About Charles Schwab

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.