Edgestream Partners L.P. Sells 16,272 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Edgestream Partners L.P. reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 80.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,953 shares of the financial services provider's stock after selling 16,272 shares during the quarter. Edgestream Partners L.P.'s holdings in Charles Schwab were worth $309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after acquiring an additional 19,195 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Charles Schwab in the 4th quarter worth approximately $441,000. Teacher Retirement System of Texas grew its position in shares of Charles Schwab by 833.4% in the 4th quarter. Teacher Retirement System of Texas now owns 94,412 shares of the financial services provider's stock worth $6,987,000 after buying an additional 84,297 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of Charles Schwab during the fourth quarter valued at approximately $241,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Charles Schwab by 23.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 25,542 shares of the financial services provider's stock valued at $1,890,000 after acquiring an additional 4,812 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Up 3.0%

SCHW stock opened at $95.87 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The Charles Schwab Corporation has a 1-year low of $61.15 and a 1-year high of $97.50. The stock has a market capitalization of $174.19 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.00 and a beta of 0.93. The business has a fifty day moving average price of $89.44 and a 200-day moving average price of $82.15.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter last year, the firm posted $0.73 EPS. The business's quarterly revenue was up 24.8% compared to the same quarter last year. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid 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 1.13%. Charles Schwab's dividend payout ratio (DPR) is currently 32.73%.

Analysts Set New Price Targets

Several research firms recently weighed in on SCHW. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the company an "overweight" rating in a report on Friday. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Friday, April 25th. Piper Sandler upped their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Finally, Barclays reissued an "overweight" rating on shares of Charles Schwab in a research report on Friday. 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $95.60.

Insider Buying and Selling

In other news, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the sale, the director owned 105,654 shares of the company's stock, valued at $9,303,891.24. This represents a 7.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nigel J. Murtagh sold 20,872 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the sale, the insider directly owned 58,999 shares of the company's stock, valued at approximately $5,310,499.99. This represents a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,313 shares of company stock valued at $10,264,091 over the last ninety days. 6.30% of the stock is owned by insiders.

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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