Hoertkorn Richard Charles Purchases Shares of 91,430 The Charles Schwab Corporation (NYSE:SCHW)

Hoertkorn Richard Charles bought a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 91,430 shares of the financial services provider's stock, valued at approximately $7,157,000. Charles Schwab comprises 3.3% of Hoertkorn Richard Charles' investment portfolio, making the stock its 12th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in SCHW. Cary Street Partners Financial LLC acquired a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $1,455,000. Banco Santander S.A. raised its position in shares of Charles Schwab by 49.6% in the fourth quarter. Banco Santander S.A. now owns 16,316 shares of the financial services provider's stock valued at $1,208,000 after buying an additional 5,413 shares in the last quarter. Graham Capital Management L.P. raised its position in shares of Charles Schwab by 248.3% in the fourth quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock valued at $8,317,000 after buying an additional 80,112 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Charles Schwab by 17.2% in the first quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock valued at $15,631,000 after buying an additional 29,255 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Charles Schwab by 14.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 618,033 shares of the financial services provider's stock valued at $45,741,000 after buying an additional 76,954 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW traded up $0.58 during trading on Friday, hitting $90.02. 9,335,355 shares of the company were exchanged, compared to its average volume of 9,509,584. The business's 50 day moving average is $86.10 and its 200-day moving average is $80.39. The company has a market capitalization of $163.56 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. 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 Charles Schwab Corporation has a 1-year low of $61.01 and a 1-year high of $90.86.

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, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same period in the prior year, the business earned $0.74 earnings per share. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.20%. Charles Schwab's dividend payout ratio is 32.73%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SCHW. JMP Securities reiterated a "market outperform" rating and issued a $94.00 price target on shares of Charles Schwab in a research report on Monday, April 21st. Keefe, Bruyette & Woods boosted their price objective 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. Truist Financial boosted their price objective on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, June 16th. TD Securities boosted their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, 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 research report on Friday, April 25th. 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 stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and an average price target of $89.40.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 2,850 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $87.57, for a total value of $249,574.50. Following the sale, the insider now owns 15,219 shares of the company's stock, valued at $1,332,727.83. The trade was a 15.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $87.68, for a total transaction of $288,467.20. Following the completion of the sale, the insider now directly owns 39,154 shares in the company, valued at approximately $3,433,022.72. This represents a 7.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,995 shares of company stock valued at $10,493,320 over the last 90 days. 6.30% of the stock is owned by insiders.

About Charles Schwab

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.