Rhumbline Advisers Buys 310,008 Shares of The Charles Schwab Co. (NYSE:SCHW)

Rhumbline Advisers boosted its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 11.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,083,586 shares of the financial services provider's stock after purchasing an additional 310,008 shares during the period. Rhumbline Advisers owned about 0.17% of Charles Schwab worth $241,383,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Oregon Pacific Wealth Management LLC bought a new stake in Charles Schwab in the fourth quarter worth approximately $688,000. Cary Street Partners Financial LLC bought a new stake in Charles Schwab in the fourth quarter worth $1,455,000. Golden State Equity Partners boosted its holdings in Charles Schwab by 293.9% in the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider's stock worth $903,000 after purchasing an additional 9,108 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Charles Schwab by 7.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider's stock worth $47,674,000 after buying an additional 43,308 shares during the last quarter. Finally, Banco Santander S.A. raised its holdings in Charles Schwab by 49.6% during the fourth quarter. Banco Santander S.A. now owns 16,316 shares of the financial services provider's stock valued at $1,208,000 after buying an additional 5,413 shares in 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 down $0.11 during trading hours on Tuesday, reaching $88.00. The stock had a trading volume of 6,123,939 shares, compared to its average volume of 9,375,550. The company has a market cap of $159.89 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $89.85. The business's fifty day moving average is $80.99 and its two-hundred day moving average is $79.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

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

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the transaction, the insider now owns 15,219 shares in the company, valued at approximately $1,332,727.83. The trade was a 15.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan M. Craig sold 47,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total value of $4,201,850.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,205 shares of company stock worth $8,848,855. Company insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Piper Sandler raised their price objective on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Cowen reissued a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. TD Cowen upgraded shares of Charles Schwab from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Truist Financial raised their target price on shares of Charles Schwab from $84.00 to $97.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Charles Schwab currently has an average rating of "Moderate Buy" and an average target price of $89.63.

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.