Oppenheimer Asset Management Inc. Decreases Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Oppenheimer Asset Management Inc. decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,865 shares of the financial services provider's stock after selling 3,388 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Charles Schwab were worth $10,244,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Atwood & Palmer Inc. purchased a new stake in shares of Charles Schwab during the 1st quarter worth approximately $25,000. WFA Asset Management Corp purchased a new stake in Charles Schwab in the 1st quarter valued at approximately $33,000. Beacon Capital Management LLC lifted its stake in Charles Schwab by 53.1% in the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock valued at $38,000 after buying an additional 169 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Charles Schwab in the 4th quarter valued at approximately $38,000. Finally, Atala Financial Inc purchased a new stake in Charles Schwab in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SCHW. Truist Financial upped their target price on Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Morgan Stanley upped their target price on Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Piper Sandler upped their target price on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $94.00 target price on shares of Charles Schwab in a research note on Monday, April 21st. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.40.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,850 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $87.57, for a total transaction of $249,574.50. Following the transaction, the insider now owns 15,219 shares in the company, 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 this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the transaction, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,995 shares of company stock valued at $10,493,320. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Trading Down 1.0%

Shares of SCHW opened at $88.30 on Tuesday. 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 firm has a market capitalization of $160.44 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. The stock's fifty day simple moving average is $85.04 and its 200 day simple moving average is $80.15. The Charles Schwab Corporation has a twelve month low of $61.01 and a twelve month high of $90.60.

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 for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. During the same period last year, the company posted $0.74 EPS. On average, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio (DPR) is currently 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.

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