Private Wealth Partners LLC Has $8.23 Million Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

Private Wealth Partners LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 92.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,088 shares of the financial services provider's stock after acquiring an additional 50,560 shares during the quarter. Private Wealth Partners LLC's holdings in Charles Schwab were worth $8,226,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Charles Schwab in the fourth quarter valued at approximately $1,289,544,000. Kovitz Investment Group Partners LLC boosted its holdings in Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock worth $814,545,000 after acquiring an additional 8,584,173 shares during the period. FMR LLC raised its stake in shares of Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after purchasing an additional 3,974,940 shares during the period. Marshall Wace LLP boosted its position in Charles Schwab by 742.0% in the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after buying an additional 3,684,640 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings in Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after purchasing an additional 3,216,000 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Piper Sandler raised their target price on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Truist Financial upped their price objective on Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday. UBS Group boosted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Finally, Citigroup raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.40.

Insider Activity

In related news, insider Jonathan M. Craig sold 47,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frank C. Herringer sold 3,592 shares of the firm's stock in a transaction that occurred 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 sale, 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 have sold 97,608 shares of company stock worth $8,392,040 in the last 90 days. Company insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

SCHW stock traded down $0.66 during trading hours on Friday, hitting $89.25. 12,979,320 shares of the stock traded hands, compared to its average volume of 9,451,289. The Charles Schwab Corporation has a one year low of $61.01 and a one year high of $90.59. 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 company has a market cap of $162.16 billion, a P/E ratio of 27.04, a P/E/G ratio of 0.96 and a beta of 0.94. The stock has a 50-day simple moving average of $84.57 and a 200 day simple moving average of $80.07.

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 analysts' consensus estimates of $1.01 by $0.03. The business 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 31.71% and a return on equity of 18.31%. During the same period in the previous year, the firm earned $0.74 EPS. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid 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 yield of 1.21%. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.

Charles Schwab Company 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.