Crestwood Advisors Group LLC Cuts Position in The Charles Schwab Corporation (NYSE:SCHW)

Crestwood Advisors Group LLC reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 640,928 shares of the financial services provider's stock after selling 17,887 shares during the quarter. Crestwood Advisors Group LLC's holdings in Charles Schwab were worth $50,172,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Atwood & Palmer Inc. bought a new position in shares of Charles Schwab during the first quarter worth about $25,000. Westside Investment Management Inc. grew its stake in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 150 shares during the period. WFA Asset Management Corp acquired a new stake in Charles Schwab in the first quarter valued at approximately $33,000. Cornerstone Planning Group LLC lifted its holdings in shares of Charles Schwab by 90.5% in the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 220 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Charles Schwab during the fourth quarter worth $38,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SCHW. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Morgan Stanley restated an "overweight" rating and set a $117.00 target price (up from $83.00) on shares of Charles Schwab in a report on Tuesday, July 15th. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the company an "overweight" rating in a report on Friday. Bank of America increased their target price on Charles Schwab from $83.00 to $84.00 and gave the company an "underperform" rating in a report on Monday. Finally, Piper Sandler increased their target price on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.65.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 10,176 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 10,129 shares of Charles Schwab stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $911,711.29. Following the completion of the sale, the insider owned 39,154 shares in the company, valued at approximately $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,313 shares of company stock worth $10,264,091. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Stock Down 0.8%

SCHW traded down $0.76 on Tuesday, hitting $95.49. The company had a trading volume of 8,863,789 shares, compared to its average volume of 9,354,105. The stock has a market capitalization of $173.50 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 1.00 and a beta of 0.93. 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 stock has a fifty day moving average price of $89.44 and a 200-day moving average price of $82.15. The Charles Schwab Corporation has a 12-month low of $61.15 and a 12-month high of $97.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the prior year, the business posted $0.73 EPS. The business's revenue for the quarter was up 24.8% compared to the same quarter last year. Analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.13%. Charles Schwab's dividend payout ratio (DPR) is presently 29.03%.

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.