Exchange Traded Concepts LLC Sells 119,568 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Exchange Traded Concepts LLC trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 87.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,260 shares of the financial services provider's stock after selling 119,568 shares during the period. Exchange Traded Concepts LLC's holdings in Charles Schwab were worth $1,351,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Klingman & Associates LLC lifted its holdings in shares of Charles Schwab by 3.2% in the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider's stock worth $302,000 after purchasing an additional 125 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its position in Charles Schwab by 2.7% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider's stock valued at $353,000 after buying an additional 127 shares during the last quarter. Personal CFO Solutions LLC raised its position in Charles Schwab by 1.2% in the 4th quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider's stock valued at $832,000 after buying an additional 130 shares during the last quarter. O ROURKE & COMPANY Inc raised its position in Charles Schwab by 1.1% in the 4th quarter. O ROURKE & COMPANY Inc now owns 12,958 shares of the financial services provider's stock valued at $959,000 after buying an additional 142 shares during the last quarter. Finally, Lantern Wealth Advisors LLC raised its position in Charles Schwab by 0.3% in the 4th quarter. Lantern Wealth Advisors LLC now owns 46,540 shares of the financial services provider's stock valued at $3,177,000 after buying an additional 144 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Up 1.1%

Shares of SCHW opened at $89.90 on Thursday. The business has a 50-day moving average of $84.24 and a 200 day moving average of $80.01. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $90.19. The firm has a market cap of $163.35 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current 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, 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 business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter last year, the company earned $0.74 EPS. As a group, research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders 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 annualized dividend and a yield of 1.20%. Charles Schwab's dividend payout ratio is currently 32.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group increased their price target on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. TD Securities increased their price target on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Truist Financial increased their price target on Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research report on Monday. Cowen reissued a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Finally, Barclays lowered their price target on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Two equities research 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's stock. According to MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus price target of $89.40.

Insiders Place Their Bets

In other news, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The stock was 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 in the company, valued at approximately $12,784,750.12. This trade represents a 2.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total value of $261,713.40. Following the sale, the insider now owns 45,824 shares of the company's stock, valued at approximately $3,548,152.32. This trade represents a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,608 shares of company stock worth $8,392,040 in the last quarter. 6.30% of the stock is owned by company 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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