Root Financial Partners LLC Lowers Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

Root Financial Partners LLC decreased its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 66.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,463 shares of the financial services provider's stock after selling 10,883 shares during the quarter. Root Financial Partners LLC's holdings in Charles Schwab were worth $428,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after buying an additional 19,195 shares during the period. Whipplewood Advisors LLC bought a new position in Charles Schwab during the fourth quarter valued at about $46,000. Proficio Capital Partners LLC bought a new position in Charles Schwab during the fourth quarter valued at about $32,643,000. QRG Capital Management Inc. grew its position in Charles Schwab by 7.9% during the fourth quarter. QRG Capital Management Inc. now owns 26,699 shares of the financial services provider's stock valued at $1,976,000 after buying an additional 1,954 shares during the period. Finally, Private Trust Co. NA grew its position in Charles Schwab by 6.1% during the fourth quarter. Private Trust Co. NA now owns 5,368 shares of the financial services provider's stock valued at $397,000 after buying an additional 309 shares during the period. Institutional investors own 84.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SCHW shares. Piper Sandler increased their price target on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Truist Financial increased their price target on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, June 16th. UBS Group increased their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Friday, April 25th. Finally, Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and increased their price target for the company from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.40.

Charles Schwab Price Performance

Shares of Charles Schwab stock traded up $0.58 on Friday, reaching $90.02. The stock had a trading volume of 9,335,355 shares, compared to its average volume of 9,511,640. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $90.86. The company has a market cap of $163.56 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. 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 business's 50 day moving average is $86.10 and its two-hundred day moving average is $80.38.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. As a group, research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

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

Insider Transactions at Charles Schwab

In other news, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, the director now directly owns 172,162 shares of the company's stock, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the firm's 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,995 shares of company stock valued at $10,493,320. 6.30% of the stock is currently owned by corporate insiders.

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.