New Century Financial Group LLC Sells 10,734 Shares of The Charles Schwab Co. (NYSE:SCHW)

New Century Financial Group LLC reduced its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 66.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,491 shares of the financial services provider's stock after selling 10,734 shares during the period. New Century Financial Group LLC's holdings in Charles Schwab were worth $430,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 10,176 shares of the business'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 filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan M. Craig sold 47,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total value of $4,201,850.00. The disclosure for this sale can be found here. Insiders have sold 97,608 shares of company stock worth $8,392,040 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on SCHW shares. Morgan Stanley increased their target price on Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Truist Financial raised their price objective on shares of Charles Schwab from $84.00 to $97.00 and gave the company a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research note on Friday, April 25th. Finally, Barclays reduced their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Two 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.25.

Charles Schwab Stock Down 1.4%

NYSE:SCHW traded down $1.24 on Friday, hitting $87.26. The stock had a trading volume of 8,938,909 shares, compared to its average volume of 9,416,209. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $89.85. The business's fifty day moving average is $83.30 and its 200 day moving average is $79.87. The company has a market cap of $158.55 billion, a PE ratio of 29.18, a P/E/G ratio of 0.99 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter in the prior year, the company posted $0.74 earnings per share. On average, equities research analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.

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.