Ruane Cunniff & Goldfarb L.P. Has $443.10 Million Holdings in The Charles Schwab Corporation $SCHW

Ruane Cunniff & Goldfarb L.P. reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 15.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,714,780 shares of the financial services provider's stock after selling 880,168 shares during the period. Charles Schwab makes up approximately 7.4% of Ruane Cunniff & Goldfarb L.P.'s holdings, making the stock its 3rd biggest holding. Ruane Cunniff & Goldfarb L.P. owned 0.27% of Charles Schwab worth $443,095,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Dogwood Wealth Management LLC raised its holdings in shares of Charles Schwab by 99.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider's stock worth $25,000 after acquiring an additional 123 shares during the period. Piscataqua Savings Bank acquired a new position in Charles Schwab in the 4th quarter worth $26,000. Scarborough Advisors LLC bought a new position in Charles Schwab during the 1st quarter worth about $29,000. Optima Capital LLC bought a new position in Charles Schwab during the 4th quarter worth about $30,000. Finally, McIlrath & Eck LLC raised its stake in shares of Charles Schwab by 143.2% in the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 189 shares during the period. Institutional investors own 84.38% of the company's stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $104.19 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50-day moving average of $94.17 and a 200-day moving average of $95.34. The stock has a market capitalization of $181.19 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 0.83 and a beta of 0.77. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $107.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The business had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. Charles Schwab's revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 6.43 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. Charles Schwab's dividend payout ratio is currently 23.27%.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the sale, the insider owned 13,738 shares of the company's stock, valued at approximately $1,373,937.38. This represents a 12.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SCHW. Wolfe Research restated an "outperform" rating and issued a $127.00 price target on shares of Charles Schwab in a report on Tuesday, July 21st. Zacks Research raised Charles Schwab from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 9th. Barclays boosted their target price on Charles Schwab from $122.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Truist Financial reduced their price target on Charles Schwab from $122.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Charles Schwab in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.94.

Charles Schwab Profile

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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