Janney Montgomery Scott LLC Sells 38,069 Shares of The Charles Schwab Co. (NYSE:SCHW)

Janney Montgomery Scott LLC lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 6.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 531,424 shares of the financial services provider's stock after selling 38,069 shares during the quarter. Janney Montgomery Scott LLC's holdings in Charles Schwab were worth $41,600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab during the first quarter worth approximately $25,000. WFA Asset Management Corp acquired a new stake in Charles Schwab during the 1st quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp bought a new stake in Charles Schwab in the 4th quarter valued at $38,000. Atala Financial Inc acquired a new position in Charles Schwab in the 4th quarter valued at $41,000. Finally, Investors Research Corp grew its holdings in Charles Schwab by 75.2% in the 1st quarter. Investors Research Corp now owns 559 shares of the financial services provider's stock valued at $44,000 after buying an additional 240 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Insider Buying and Selling at Charles Schwab

In related news, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 39,154 shares in the company, valued at $3,433,022.72. This trade represents a 7.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,608 shares of company stock worth $8,392,040. Insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

SCHW stock opened at $88.95 on Tuesday. The stock has a market cap of $161.61 billion, a price-to-earnings ratio of 29.75, a P/E/G ratio of 0.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a 50 day simple moving average of $83.69 and a 200 day simple moving average of $79.88. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $89.85.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. Research analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is presently 32.73%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SCHW. UBS Group boosted their target price on shares of 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 boosted their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. JMP Securities restated a "market outperform" rating and set a $94.00 target price on shares of Charles Schwab in a research report on Monday, April 21st. Truist Financial lifted their price target on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research report on Monday. Finally, Citigroup raised Charles Schwab from a "neutral" rating to a "buy" rating and increased their price target for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.40.

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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