The Charles Schwab Corporation (NYSE:SCHW) Stock Position Increased by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 14.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 303,469 shares of the financial services provider's stock after buying an additional 38,724 shares during the period. DAVENPORT & Co LLC's holdings in Charles Schwab were worth $23,732,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Atwood & Palmer Inc. purchased a new position in shares of Charles Schwab in the 1st quarter valued at $25,000. Westside Investment Management Inc. lifted its stake in shares of Charles Schwab by 75.0% during the first 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 purchased a new stake in shares of Charles Schwab in the first quarter worth about $33,000. Beacon Capital Management LLC grew its stake in shares of Charles Schwab by 53.1% in the first quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock valued at $38,000 after buying an additional 169 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Charles Schwab in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction on Friday, May 30th. The stock was sold at an average price of $87.57, for a total transaction of $249,574.50. Following the sale, the insider owned 15,219 shares of the company's stock, valued at $1,332,727.83. The trade was a 15.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the company'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 disclosure for this sale can be found here. Insiders have sold 119,905 shares of company stock valued at $10,530,833 in the last ninety days. Insiders own 6.30% of the company's stock.

Charles Schwab Stock Performance

Shares of NYSE:SCHW traded up $0.22 during trading on Thursday, reaching $91.56. 2,921,745 shares of the company's stock traded hands, compared to its average volume of 9,508,602. The stock has a market capitalization of $166.36 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 0.97 and a beta of 0.93. The Charles Schwab Corporation has a 12 month low of $61.01 and a 12 month high of $92.15. The company has a 50 day moving average of $86.98 and a 200-day moving average of $80.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors 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 dividend on an annualized basis and a dividend yield of 1.18%. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of analyst reports. TD Securities upped 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. Cowen restated a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. UBS Group raised their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Morgan Stanley upped their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. raised their target price on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average price target of $89.40.

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.