Patriot Financial Group Insurance Agency LLC grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,203 shares of the financial services provider's stock after purchasing an additional 4,275 shares during the quarter. Patriot Financial Group Insurance Agency LLC's holdings in Charles Schwab were worth $3,773,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Charles Schwab by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock worth $9,516,075,000 after acquiring an additional 1,187,384 shares during the period. Geode Capital Management LLC grew its stake in shares of Charles Schwab by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock worth $2,279,742,000 after acquiring an additional 760,043 shares during the period. Fisher Asset Management LLC grew its stake in shares of Charles Schwab by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after acquiring an additional 265,708 shares during the period. Norges Bank bought a new position in shares of Charles Schwab during the 4th quarter worth $1,289,544,000. Finally, Northern Trust Corp grew its stake in shares of Charles Schwab by 13.4% during the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock worth $1,164,911,000 after acquiring an additional 1,864,286 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $87.68, for a total value of $288,467.20. Following the completion of the sale, the insider now owns 39,154 shares in the company, valued at approximately $3,433,022.72. The trade was a 7.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan M. Craig sold 9,559 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $82.00, for a total transaction of $783,838.00. The disclosure for this sale can be found here. Insiders sold 97,608 shares of company stock worth $8,392,040 in the last quarter. 6.30% of the stock is owned by insiders.
Charles Schwab Stock Performance
Shares of NYSE SCHW opened at $88.25 on Friday. The stock's 50-day moving average is $81.74 and its 200 day moving average is $79.63. The stock has a market cap of $160.35 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 0.99 and a beta of 0.94. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $89.85. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.
Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.74 EPS. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.
Charles Schwab Announces Dividend
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. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.22%. Charles Schwab's payout ratio is 32.73%.
Analysts Set New Price Targets
SCHW has been the subject of several research reports. Keefe, Bruyette & Woods increased their price target on Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 22nd. Truist Financial raised their target price on Charles Schwab from $84.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Piper Sandler raised their target price on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Citigroup upgraded Charles Schwab from a "neutral" rating to a "buy" rating and raised their target price for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Finally, Cowen restated a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.63.
Check Out Our Latest Analysis on SCHW
Charles Schwab Company Profile
(
Free Report)
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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