CORDA Investment Management LLC. trimmed its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 608,606 shares of the financial services provider's stock after selling 7,998 shares during the quarter. Charles Schwab accounts for approximately 3.8% of CORDA Investment Management LLC.'s portfolio, making the stock its 4th largest holding. CORDA Investment Management LLC.'s holdings in Charles Schwab were worth $47,642,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Atwood & Palmer Inc. bought a new position in shares of Charles Schwab during the 1st quarter worth approximately $25,000. Westside Investment Management Inc. lifted its position in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after buying an additional 150 shares in the last quarter. WFA Asset Management Corp bought a new position in shares of Charles Schwab during the 1st quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Charles Schwab during the 4th quarter worth approximately $38,000. Finally, Beacon Capital Management LLC raised its holdings in shares of Charles Schwab by 53.1% in the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock worth $38,000 after purchasing an additional 169 shares during the period. Institutional investors own 84.38% of the company's stock.
Insider Buying and Selling
In related news, insider Paul V. Woolway sold 10,129 shares of the stock in a transaction dated 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 of the company's stock, valued at $3,524,251.54. This represents a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the sale, the director owned 105,654 shares in the company, valued at approximately $9,303,891.24. This trade represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,905 shares of company stock valued at $10,530,833 in the last three months. 6.30% of the stock is owned by corporate insiders.
Charles Schwab Price Performance
Shares of SCHW traded up $0.36 during mid-day trading on Wednesday, reaching $92.31. 6,139,737 shares of the stock traded hands, compared to its average volume of 9,556,327. The firm has a fifty day moving average price of $87.91 and a 200 day moving average price of $81.08. The company has a market cap of $167.72 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $92.80.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the previous year, the business earned $0.74 earnings per share. As a group, equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.
Charles Schwab Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors 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 annualized dividend and a yield of 1.17%. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.
Analyst Ratings Changes
Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Barclays dropped their price objective on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and upped their price objective for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Truist Financial upped their price objective on Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Finally, Piper Sandler upped their price objective on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of "Moderate Buy" and a consensus target price of $90.85.
Get Our Latest Stock Analysis on SCHW
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.
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