Lazard Asset Management LLC Grows Stock Holdings in The Charles Schwab Corporation $SCHW

Key Points

• Lazard Asset Management increased its Charles Schwab position by 9.5% in the first quarter, bringing its holdings to 2.86 million shares worth approximately $269.1 million. Institutional investors collectively own 84.38% of SCHW.
• Charles Schwab reported a quarterly earnings and revenue beat, with EPS of $1.62 versus the $1.56 consensus estimate and revenue of $7.07 billion. Revenue rose 20.9% year over year.
• The company declared a quarterly dividend of $0.32 per share, or $1.28 annually, representing a 1.3% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $119.76, above the reported $101.92 share price.

Lazard Asset Management LLC raised its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 9.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,863,815 shares of the financial services provider's stock after acquiring an additional 248,789 shares during the period. Lazard Asset Management LLC owned 0.16% of Charles Schwab worth $269,141,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Dogwood Wealth Management LLC increased its stake in Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Piscataqua Savings Bank acquired a new stake in Charles Schwab in the 4th quarter worth about $26,000. Optima Capital LLC purchased a new stake in Charles Schwab in the 4th quarter valued at about $30,000. Scarborough Advisors LLC purchased a new stake in Charles Schwab in the 1st quarter valued at about $29,000. Finally, McIlrath & Eck LLC increased its stake in shares of Charles Schwab by 143.2% during the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Down 0.1%

Shares of NYSE:SCHW opened at $101.92 on Monday. The stock has a 50-day simple moving average of $93.93 and a 200-day simple moving average of $95.33. The stock has a market capitalization of $177.25 billion, a P/E ratio of 18.53, a PEG ratio of 0.83 and a beta of 0.77. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $107.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. The firm had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. Charles Schwab's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share. Equities analysts forecast that The Charles Schwab Corporation will post 6.43 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.3%. Charles Schwab's dividend payout ratio is presently 23.27%.

Insiders Place Their Bets

In other news, Director Frank C. Herringer sold 2,520 shares of the firm's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $90.60, for a total value of $228,312.00. Following the transaction, the director owned 177,508 shares of the company's stock, valued at approximately $16,082,224.80. This trade represents a 1.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan S. Beatty sold 2,000 shares of Charles Schwab stock in a transaction on Monday, July 6th. The shares were sold at an average price of $100.01, for a total transaction of $200,020.00. Following the transaction, the insider owned 13,738 shares in the company, valued at $1,373,937.38. The trade was a 12.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,520 shares of company stock worth $622,392. Insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SCHW. Morgan Stanley increased their price objective on shares of Charles Schwab from $125.00 to $133.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. BMO Capital Markets lowered shares of Charles Schwab from an "outperform" rating to a "market perform" rating and set a $105.00 price target for the company. in a research report on Monday, July 20th. Raymond James Financial reaffirmed an "outperform" rating and set a $145.00 price target on shares of Charles Schwab in a research note on Wednesday. UBS Group lifted their price target on shares of Charles Schwab from $122.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Argus boosted their price objective on shares of Charles Schwab from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.76.

Trending Headlines about Charles Schwab

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab announced a quarterly common stock dividend of $0.32 per share, along with preferred stock dividends, reinforcing its capital-return story for income-focused investors. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Positive Sentiment: Argus raised its price target on SCHW to $114 from $108 and kept a buy rating, signaling confidence in further upside. Argus raises Charles Schwab price target
• Positive Sentiment: Schwab was added to Zacks’ “Best Income Stocks to Buy” list, suggesting investors continue to view the company as an attractive income and quality financial-services name. Best Income Stocks to Buy for July 23rd
• Positive Sentiment: Recent coverage highlighted Schwab’s “dual beats” in its latest quarter, with earnings and revenue both coming in above expectations, adding to the bullish case after the July 21 report. Charles Schwab: Dual Beats And Attractive Preferreds
• Neutral Sentiment: Schwab also received media attention for its call for the CLARITY Act to pass, framing crypto regulation as a potential long-term industry catalyst, though the timing remains uncertain. Charles Schwab Calls CLARITY Act a Fundamental Catalyst

About Charles Schwab

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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