208,086 Shares in The Charles Schwab Corporation (NYSE:SCHW) Acquired by Smith Group Asset Management LLC

Smith Group Asset Management LLC acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 208,086 shares of the financial services provider's stock, valued at approximately $16,289,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cary Street Partners Financial LLC purchased a new position in Charles Schwab in the 4th quarter worth $1,455,000. Banco Santander S.A. increased its holdings in shares of Charles Schwab by 49.6% in 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 purchasing an additional 5,413 shares during the period. Graham Capital Management L.P. boosted its position in Charles Schwab by 248.3% in the fourth quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock valued at $8,317,000 after buying an additional 80,112 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Charles Schwab by 17.2% in the 1st quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock worth $15,631,000 after buying an additional 29,255 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Charles Schwab by 14.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 618,033 shares of the financial services provider's stock worth $45,741,000 after buying an additional 76,954 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Securities boosted their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. UBS Group raised their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Piper Sandler lifted their target price on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Wells Fargo & Company lowered their price target on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Truist Financial lifted their price objective on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a report on Monday, June 16th. 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 company's stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of "Moderate Buy" and an average price target of $89.40.

Charles Schwab Price Performance

NYSE SCHW traded down $0.06 during mid-day trading on Tuesday, hitting $91.18. The stock had a trading volume of 8,199,574 shares, compared to its average volume of 9,506,465. The Charles Schwab Corporation has a twelve month low of $61.01 and a twelve month high of $91.67. The stock has a market capitalization of $165.67 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 0.96 and a beta of 0.94. The firm's 50 day moving average is $86.42 and its 200 day moving average is $80.44. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share 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 analyst estimates of $5.46 billion. During the same period in the previous year, the business posted $0.74 earnings per share. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.18%. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.

Insider Transactions at Charles Schwab

In other news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the sale, the director owned 105,654 shares of the company's stock, valued at approximately $9,303,891.24. The trade was a 7.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 10,129 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the completion of the transaction, the insider directly owned 39,154 shares in the company, valued at approximately $3,524,251.54. This trade represents a 20.55% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,615 shares of company stock valued at $10,231,607. 6.30% of the stock is currently owned by company insiders.

Charles Schwab 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.