Conning Inc. Decreases Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Conning Inc. trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 16.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,647 shares of the financial services provider's stock after selling 10,708 shares during the quarter. Conning Inc.'s holdings in Charles Schwab were worth $4,356,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Atwood & Palmer Inc. bought a new stake in Charles Schwab during the 1st quarter valued at approximately $25,000. Westside Investment Management Inc. boosted its holdings in 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 buying an additional 150 shares during the period. WFA Asset Management Corp bought a new position in Charles Schwab in the 1st quarter worth $33,000. Beacon Capital Management LLC boosted its holdings in shares of Charles Schwab by 53.1% during the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 169 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Charles Schwab in the 4th quarter valued at about $38,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Trading Down 0.2%

SCHW stock traded down $0.14 during trading on Friday, hitting $91.20. 5,765,549 shares of the company traded hands, compared to its average volume of 9,546,720. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $92.15. The company has a 50-day moving average of $87.22 and a 200-day moving average of $80.68. The firm has a market capitalization of $165.71 billion, a PE ratio of 27.64, a P/E/G ratio of 0.98 and a beta of 0.93.

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

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 20,872 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 $1,878,688.72. Following the completion of the transaction, the insider directly owned 58,999 shares of the company's stock, valued at $5,310,499.99. This trade represents a 26.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 10,129 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $911,711.29. Following the completion of the sale, the insider directly owned 39,154 shares of the company's stock, valued at approximately $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. Over the last 90 days, insiders have sold 119,905 shares of company stock valued at $10,530,833. 6.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on SCHW. Barclays cut their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Truist Financial upped their price objective on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and increased their target price for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. Finally, JMP Securities reissued a "market outperform" rating and set a $94.00 price objective on shares of Charles Schwab in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.40.

Charles Schwab 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.