GAMMA Investing LLC Grows Position in The Charles Schwab Co. (NYSE:SCHW)

GAMMA Investing LLC lifted its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 9,938.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,123,110 shares of the financial services provider's stock after acquiring an additional 2,101,961 shares during the quarter. GAMMA Investing LLC owned approximately 0.12% of Charles Schwab worth $166,197,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new stake in Charles Schwab during the 4th quarter worth about $38,000. Atala Financial Inc purchased a new stake in shares of Charles Schwab in the fourth quarter worth about $41,000. Knuff & Co LLC lifted its holdings in shares of Charles Schwab by 1,309.3% in the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock worth $45,000 after buying an additional 563 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Charles Schwab in the fourth quarter worth about $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Charles Schwab in the fourth quarter worth about $46,000. Institutional investors own 84.38% of the company's stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Barclays lowered their price target on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Cowen restated a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Finally, TD Securities upped their target price on Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $89.63.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan M. Craig sold 47,500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total value of $4,201,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $87.68, for a total value of $288,467.20. Following the completion of the transaction, the insider now directly owns 39,154 shares of the company's stock, valued at $3,433,022.72. This represents a 7.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,608 shares of company stock valued at $8,392,040 in the last 90 days. Insiders own 6.30% of the company's stock.

Charles Schwab Trading Down 0.4%

SCHW stock traded down $0.32 during trading on Thursday, hitting $87.17. 6,171,915 shares of the company traded hands, compared to its average volume of 9,398,873. The firm has a market capitalization of $158.38 billion, a PE ratio of 29.15, a P/E/G ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $89.85. The company has a 50-day moving average of $81.53 and a 200-day moving average of $79.58. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the prior year, the business posted $0.74 EPS. Analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's payout ratio is 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.