Lecap Asset Management Ltd. Sells 20,598 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Lecap Asset Management Ltd. lowered its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 41.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,431 shares of the financial services provider's stock after selling 20,598 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Charles Schwab were worth $2,304,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cary Street Partners Financial LLC purchased a new stake in shares of Charles Schwab during the fourth quarter worth about $1,455,000. Banco Santander S.A. grew its position in shares of Charles Schwab by 49.6% during the fourth quarter. Banco Santander S.A. now owns 16,316 shares of the financial services provider's stock worth $1,208,000 after purchasing an additional 5,413 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Charles Schwab by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 10,438,852 shares of the financial services provider's stock valued at $772,579,000 after buying an additional 60,683 shares in the last quarter. Graham Capital Management L.P. grew its holdings in Charles Schwab by 248.3% during the 4th 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. Finally, State of Alaska Department of Revenue grew its holdings in Charles Schwab by 17.2% during the 1st 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. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research analyst reports. Truist Financial raised their price target on Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a report on Monday, June 16th. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and raised their price target for the company from $65.00 to $82.00 in a report on Monday, June 9th. JPMorgan Chase & Co. raised their price target on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, April 21st. TD Securities raised their price target on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley raised their price target on Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Two equities 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.40.

Charles Schwab Trading Up 0.6%

Shares of SCHW stock traded up $0.58 on Friday, reaching $90.02. 9,335,355 shares of the company's stock were exchanged, compared to its average volume of 9,509,584. The Charles Schwab Corporation has a 52 week low of $61.01 and a 52 week high of $90.86. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $163.56 billion, a PE ratio of 27.28, a P/E/G ratio of 0.96 and a beta of 0.94. The company's fifty day simple moving average is $86.10 and its 200 day simple moving average is $80.39.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly 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 18.31% and a net margin of 31.71%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period last year, the company earned $0.74 EPS. As a group, analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

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

Insider Buying and Selling

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank C. Herringer sold 3,592 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the transaction, the director now directly owns 172,162 shares of the company's stock, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 119,995 shares of company stock valued at $10,493,320. Insiders own 6.30% of the company's stock.

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.