Private Advisory Group LLC Purchases 9,366 Shares of The Charles Schwab Corporation (NYSE:SCHW)

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Private Advisory Group LLC raised its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 10.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 95,297 shares of the financial services provider's stock after buying an additional 9,366 shares during the period. Private Advisory Group LLC's holdings in Charles Schwab were worth $7,460,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SCHW. Cary Street Partners Financial LLC purchased a new stake in shares of Charles Schwab in the 4th quarter valued at approximately $1,455,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Charles Schwab by 6.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock valued at $92,493,000 after acquiring an additional 68,858 shares in the last quarter. Graham Capital Management L.P. lifted its position in shares of Charles Schwab by 248.3% in the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock valued at $8,317,000 after acquiring an additional 80,112 shares in the last quarter. World Investment Advisors lifted its position in shares of Charles Schwab by 7.6% in the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock valued at $12,760,000 after acquiring an additional 11,505 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of 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 valued at $15,631,000 after acquiring an additional 29,255 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares in the company, valued at $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paula A. Sneed sold 8,647 shares of the stock in a transaction 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 completion of the sale, the director owned 105,654 shares of the company's stock, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 304,726 shares of company stock valued at $29,025,396. 6.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. William Blair downgraded shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. UBS Group raised their price target 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. TD Securities raised their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Truist Financial raised their price target on shares of Charles Schwab from $100.00 to $107.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen 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 a consensus price target of $99.35.

Charles Schwab Stock Down 2.2%

SCHW traded down $2.16 during trading hours on Friday, hitting $95.57. 9,790,479 shares of the company's stock were exchanged, compared to its average volume of 8,649,078. The Charles Schwab Corporation has a 1-year low of $61.15 and a 1-year high of $99.59. The stock's 50-day moving average is $91.28 and its two-hundred day moving average is $83.66. The stock has a market cap of $173.65 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 0.94 and a beta of 0.96. 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 announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The business had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The firm's revenue was up 24.8% on a year-over-year basis. Sell-side analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab declared that its board has approved a share repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a $0.27 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

About Charles Schwab

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.