Pallas Capital Advisors LLC Buys Shares of 17,997 The Charles Schwab Co. (NYSE:SCHW)

Pallas Capital Advisors LLC bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,997 shares of the financial services provider's stock, valued at approximately $1,409,000.

A number of other hedge funds also recently modified their holdings of the company. WFA Asset Management Corp acquired a new stake in shares of Charles Schwab during the first quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp bought 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 during the 4th quarter valued at about $41,000. Investors Research Corp raised its stake in Charles Schwab by 75.2% in the first 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 during the period. Finally, Knuff & Co LLC boosted its holdings in shares of Charles Schwab by 1,309.3% during the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock worth $45,000 after buying an additional 563 shares during the period. Institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Down 0.4%

NYSE:SCHW traded down $0.35 on Thursday, hitting $88.05. 1,313,254 shares of the company's stock were exchanged, compared to its average volume of 9,370,051. 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 Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $89.85. The firm has a 50-day moving average price of $82.58 and a 200-day moving average price of $79.79. The company has a market cap of $159.98 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94.

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

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.23%. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 10,176 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 owns 172,162 shares of the company's stock, valued at $12,784,750.12. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,608 shares of company stock valued at $8,392,040 over the last three months. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Friday, April 25th. Wells Fargo & Company dropped their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Truist Financial lifted their target price on shares of Charles Schwab from $84.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and raised their target price for the stock from $65.00 to $82.00 in a report on Monday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.25.

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.