SYM FINANCIAL Corp purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,886 shares of the financial services provider's stock, valued at approximately $226,000.
Other hedge funds have also recently made changes to their positions in the company. Cary Street Partners Financial LLC bought a new stake in Charles Schwab in the fourth quarter worth approximately $1,455,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Charles Schwab by 6.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock worth $92,493,000 after buying an additional 68,858 shares in the last quarter. Graham Capital Management L.P. grew its holdings in Charles Schwab by 248.3% during the fourth quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock worth $8,317,000 after buying an additional 80,112 shares in the last quarter. World Investment Advisors grew its holdings in Charles Schwab by 7.6% during the first quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock worth $12,760,000 after buying an additional 11,505 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Charles Schwab by 17.2% during the first 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 in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have weighed in on the company. William Blair cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and upped their price target for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Barclays upped their price target on Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Piper Sandler upped their price target on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods upped their price target on Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen 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 target price of $98.65.
Check Out Our Latest Stock Report on SCHW
Insiders Place Their Bets
In other Charles Schwab news, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction on Friday, May 30th. The stock was sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the sale, the insider directly owned 15,219 shares of the company's stock, valued at approximately $1,332,727.83. The trade was a 15.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,313 shares of company stock worth $10,264,091. 6.30% of the stock is owned by corporate insiders.
Charles Schwab Price Performance
Shares of Charles Schwab stock traded up $1.39 during trading on Thursday, hitting $96.54. 9,042,432 shares of the stock traded hands, compared to its average volume of 8,724,406. The stock has a market cap of $175.41 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 0.91 and a beta of 0.93. The Charles Schwab Corporation has a 52 week low of $61.15 and a 52 week high of $97.50. The firm's fifty day moving average is $90.17 and its 200-day moving average is $82.64. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53.
Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The company had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter last year, the business posted $0.73 EPS. The firm's revenue for the quarter was up 24.8% compared to the same quarter last year. Research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.
Charles Schwab Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.12%. Charles Schwab's payout ratio is 29.03%.
Charles Schwab declared that its board has initiated a share buyback program on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.
About Charles Schwab
(
Free Report)
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.
See Also
Before you consider Charles Schwab, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Charles Schwab wasn't on the list.
While Charles Schwab currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
