Dynamic Advisor Solutions LLC Acquires New Position in The Charles Schwab Corporation (NYSE:SCHW)

Dynamic Advisor Solutions LLC acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,037 shares of the financial services provider's stock, valued at approximately $1,021,000.

Other institutional investors also recently bought and sold shares of the company. Everpar Advisors LLC purchased a new stake in Charles Schwab in the 1st quarter valued at about $236,000. Opal Wealth Advisors LLC raised its stake in shares of Charles Schwab by 7.6% in the 1st quarter. Opal Wealth Advisors LLC now owns 3,471 shares of the financial services provider's stock valued at $272,000 after acquiring an additional 245 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of Charles Schwab by 8.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 1,955 shares of the financial services provider's stock valued at $153,000 after acquiring an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Charles Schwab by 9.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,087,355 shares of the financial services provider's stock worth $85,118,000 after purchasing an additional 95,336 shares during the period. Finally, Bernard Wealth Management Corp. boosted its position in shares of Charles Schwab by 22.2% during the 1st quarter. Bernard Wealth Management Corp. now owns 4,544 shares of the financial services provider's stock worth $356,000 after purchasing an additional 825 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 8,614 shares of Charles Schwab stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $80.00, for a total value of $689,120.00. Following the sale, the insider now owns 49,204 shares of the company's stock, valued at $3,936,320. The trade was a 14.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the sale, the director now owns 172,162 shares of the company's stock, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,608 shares of company stock worth $8,392,040 in the last quarter. Company insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SCHW. Citigroup raised Charles Schwab from a "neutral" rating to a "buy" rating and boosted their target price for the company from $85.00 to $102.00 in a research report on Wednesday, April 2nd. The Goldman Sachs Group upgraded Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a report on Friday, April 25th. JMP Securities restated a "market outperform" rating and set a $94.00 target price on shares of Charles Schwab in a report on Monday, April 21st. Cowen reiterated a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Finally, Truist Financial raised 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $89.40.

Charles Schwab Stock Up 1.1%

Charles Schwab stock traded up $0.94 during mid-day trading on Wednesday, hitting $89.90. The company had a trading volume of 8,081,598 shares, compared to its average volume of 9,422,954. The business has a fifty day moving average of $83.96 and a 200 day moving average of $79.94. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $90.17. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The stock has a market cap of $163.35 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 0.95 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results 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 return on equity of 18.31% and a net margin of 31.71%. The company 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 company posted $0.74 earnings per share. On average, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.

Charles Schwab Company 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.