The Charles Schwab Corporation (NYSE:SCHW) is Ironwood Investment Counsel LLC's 7th Largest Position

Key Points

• Ironwood Investment Counsel LLC increased its position in The Charles Schwab Corporation, making it the firm's 7th largest investment, valued at approximately $10.44 million.
• Insider transactions show significant selling activity, with directors Paula A. Sneed and Jonathan S. Beatty selling shares recently, indicating decreased ownership stakes.
• Analysts are optimistic about Charles Schwab's future performance, with multiple firms raising target prices and ratings for the stock, indicating a consensus average target price of $99.35.

Ironwood Investment Counsel LLC raised its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,361 shares of the financial services provider's stock after purchasing an additional 4,051 shares during the quarter. Charles Schwab accounts for about 1.8% of Ironwood Investment Counsel LLC's investment portfolio, making the stock its 7th largest position. Ironwood Investment Counsel LLC's holdings in Charles Schwab were worth $10,440,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab during the first quarter valued at approximately $25,000. Westside Investment Management Inc. grew its stake in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. WFA Asset Management Corp bought a new stake in Charles Schwab in the 1st quarter valued at $33,000. Cornerstone Planning Group LLC lifted its stake in Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock worth $36,000 after purchasing an additional 220 shares in the last quarter. Finally, Beacon Capital Management LLC boosted its holdings in shares of Charles Schwab by 53.1% during the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 169 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the transaction, the director directly owned 105,654 shares in the company, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,850 shares of the firm's 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 completion of the transaction, the insider directly owned 15,219 shares in the company, valued at $1,332,727.83. This represents a 15.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 308,016 shares of company stock valued at $29,341,433. 6.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Truist Financial lifted their price objective on Charles Schwab from $100.00 to $107.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. The Goldman Sachs Group upgraded Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Friday, April 25th. UBS Group raised their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Finally, Redburn Atlantic raised shares of 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 note on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $99.35.

Charles Schwab Stock Up 0.4%

Shares of NYSE SCHW opened at $96.79 on Thursday. The Charles Schwab Corporation has a 1 year low of $61.16 and a 1 year high of $99.59. The firm has a 50-day simple moving average of $91.81 and a two-hundred day simple moving average of $84.11. The company has a market cap of $175.87 billion, a P/E ratio of 26.02, a PEG ratio of 0.92 and a beta of 0.96. 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 issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The company's revenue for the quarter was up 24.8% on a year-over-year basis. Research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its Board of Directors has initiated a stock repurchase 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 buy up to 11.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is 29.03%.

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.

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.