Puzo Michael J Takes Position in The Charles Schwab Corporation (NYSE:SCHW)

Puzo Michael J purchased a new position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,828 shares of the financial services provider's stock, valued at approximately $378,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Charles Schwab in the 4th quarter valued at approximately $1,289,544,000. Kovitz Investment Group Partners LLC grew its position 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 valued at $814,545,000 after purchasing an additional 8,584,173 shares during the period. FMR LLC boosted its stake in Charles Schwab by 69.4% during the 4th 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 last quarter. Marshall Wace LLP lifted its stake in Charles Schwab by 742.0% during 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 acquiring an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA increased its stake in Charles Schwab by 310.3% in the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after buying an additional 3,216,000 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW traded up $0.94 during midday trading on Thursday, hitting $89.90. 8,081,605 shares of the stock traded hands, compared to its average volume of 9,437,175. The Charles Schwab Corporation has a one year low of $61.01 and a one year high of $90.19. The firm has a 50-day moving average of $84.24 and a two-hundred day moving average of $80.01. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $163.35 billion, a P/E ratio of 27.24, a PEG ratio of 0.95 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly 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. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the firm earned $0.74 earnings per share. On average, equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.20%. Charles Schwab's payout ratio is presently 32.73%.

Insiders Place Their Bets

In related news, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the completion of the transaction, the insider now directly owns 45,824 shares of the company's stock, valued at $3,548,152.32. The trade was a 6.87% decrease in their ownership of the stock. 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. 6.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on shares of 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 lifted their price target for the company from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. TD Securities increased their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, UBS Group boosted their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.40.

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.