Dynasty Wealth Management LLC Acquires New Position in The Charles Schwab Corporation (NYSE:SCHW)

Dynasty Wealth Management LLC acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,667 shares of the financial services provider's stock, valued at approximately $835,000.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Charles Schwab by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock worth $9,516,075,000 after purchasing an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Charles Schwab by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock valued at $2,279,742,000 after purchasing an additional 760,043 shares during the period. Norges Bank bought a new stake in Charles Schwab in the 4th quarter valued at about $1,289,544,000. Northern Trust Corp raised its position in shares of Charles Schwab by 13.4% in the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after buying an additional 1,864,286 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Charles Schwab by 3.0% in the 4th quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider's stock valued at $1,098,497,000 after buying an additional 430,250 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Up 2.0%

Shares of Charles Schwab stock opened at $93.12 on Friday. 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 company's fifty day simple moving average is $89.21 and its two-hundred day simple moving average is $81.89. The company has a market cap of $169.19 billion, a P/E ratio of 28.22, a PEG ratio of 0.95 and a beta of 0.93. The Charles Schwab Corporation has a 12-month low of $61.15 and a 12-month high of $95.49.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter last year, the firm posted $0.74 EPS. Research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current 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 paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is presently 32.73%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Raymond James Financial increased their price objective on shares of Charles Schwab from $91.00 to $99.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Piper Sandler raised their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday. William Blair lowered shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Finally, Morgan Stanley restated an "overweight" rating and set a $117.00 price objective (up previously from $83.00) on shares of Charles Schwab in a report on Tuesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $95.60.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,850 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the sale, the insider owned 15,219 shares in the company, valued at approximately $1,332,727.83. The trade was a 15.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value 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 over the last 90 days. Insiders own 6.30% of the company's stock.

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.

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