Secure Asset Management LLC Purchases 4,902 Shares of The Charles Schwab Co. (NYSE:SCHW)

Secure Asset Management LLC increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,967 shares of the financial services provider's stock after purchasing an additional 4,902 shares during the quarter. Secure Asset Management LLC's holdings in Charles Schwab were worth $2,346,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Charles Schwab in the fourth quarter worth $1,289,544,000. Kovitz Investment Group Partners LLC boosted its position in shares of Charles Schwab by 354.5% during 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 acquiring an additional 8,584,173 shares in the last quarter. FMR LLC raised its holdings in shares of Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after buying an additional 3,974,940 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of 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 purchasing an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA grew its stake in Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock worth $314,716,000 after buying an additional 3,216,000 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SCHW shares. TD Securities raised their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. UBS Group raised their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Morgan Stanley increased their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their target price on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, 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 research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $89.63.

Insider Transactions at Charles Schwab

In other 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 value of $4,201,850.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,850 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $87.57, for a total transaction of $249,574.50. Following the transaction, the insider now directly owns 15,219 shares in the company, valued at $1,332,727.83. This trade represents a 15.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,608 shares of company stock worth $8,392,040 over the last three months. 6.30% of the stock is owned by company insiders.

Charles Schwab Price Performance

NYSE SCHW traded down $0.32 during midday trading on Thursday, hitting $87.17. The company had a trading volume of 6,171,915 shares, compared to its average volume of 9,389,329. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $89.85. The firm has a 50-day moving average price of $81.35 and a 200-day moving average price of $79.54. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $158.38 billion, a PE ratio of 29.15, a P/E/G ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted 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. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm 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 business earned $0.74 earnings per share. As a group, analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.

About Charles Schwab

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.