Sumitomo Mitsui Trust Group Inc. Purchases 292,102 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Sumitomo Mitsui Trust Group Inc. raised its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 8.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,833,515 shares of the financial services provider's stock after purchasing an additional 292,102 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Charles Schwab worth $300,088,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SCHW. Brighton Jones LLC grew its stake in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after purchasing an additional 19,195 shares in the last quarter. Bryn Mawr Capital Management LLC bought a new stake in shares of Charles Schwab during the 4th quarter worth about $356,000. Whipplewood Advisors LLC bought a new stake in shares of Charles Schwab during the 4th quarter worth about $46,000. New York Life Investment Management LLC boosted its stake in shares of Charles Schwab by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 200,835 shares of the financial services provider's stock worth $14,864,000 after acquiring an additional 1,693 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Charles Schwab by 4.9% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 134,253 shares of the financial services provider's stock worth $9,936,000 after acquiring an additional 6,256 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several recent analyst reports. Morgan Stanley upped their price target on Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Piper Sandler increased their target price on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. JPMorgan Chase & Co. increased 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. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and increased their target price for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Finally, JMP Securities restated a "market outperform" rating and set a $94.00 target price on shares of Charles Schwab in a research note on Monday, April 21st. 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.40.

Charles Schwab Price Performance

Shares of SCHW traded up $0.58 during mid-day trading on Friday, reaching $90.02. The company had a trading volume of 9,335,355 shares, compared to its average volume of 9,509,584. The Charles Schwab Corporation has a twelve month low of $61.01 and a twelve month high of $90.86. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The company's 50-day moving average is $86.10 and its 200-day moving average is $80.39. The company has a market capitalization of $163.56 billion, a P/E ratio of 27.28, a P/E/G ratio of 0.96 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its 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 return on equity of 18.31% and a net margin of 31.71%. The business had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. During the same period in the prior year, the firm posted $0.74 EPS. On average, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued 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 1.20%. Charles Schwab's payout ratio is presently 32.73%.

Insider Buying and Selling

In related news, General Counsel Peter J. Morgan III sold 10,176 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 20,872 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $1,878,688.72. Following the sale, the insider now owns 58,999 shares in the company, valued at approximately $5,310,499.99. This trade represents a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,995 shares of company stock worth $10,493,320 in the last three months. Insiders own 6.30% of the company's stock.

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.