Financial Counselors Inc. Sells 8,819 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Financial Counselors Inc. decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,219 shares of the financial services provider's stock after selling 8,819 shares during the quarter. Financial Counselors Inc.'s holdings in Charles Schwab were worth $20,605,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Personal CFO Solutions LLC boosted its stake in Charles Schwab by 1.2% during the 4th quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider's stock worth $832,000 after acquiring an additional 130 shares during the last quarter. HM Payson & Co. increased its stake in Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock valued at $1,509,000 after purchasing an additional 130 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in Charles Schwab by 2.1% in the first quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider's stock valued at $513,000 after purchasing an additional 132 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in Charles Schwab by 1.8% in the first quarter. Premier Path Wealth Partners LLC now owns 7,817 shares of the financial services provider's stock valued at $612,000 after purchasing an additional 140 shares in the last quarter. Finally, Sutton Place Investors LLC increased its stake in Charles Schwab by 1.6% in the first quarter. Sutton Place Investors LLC now owns 8,677 shares of the financial services provider's stock valued at $679,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Analyst Ratings Changes

SCHW has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Citigroup upped their target price on shares of Charles Schwab from $102.00 to $105.00 and gave the company a "buy" rating in a research note on Monday. UBS Group upped their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Friday, April 25th. Finally, Truist Financial upped their price target on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a report on Monday, June 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab presently has an average rating of "Moderate Buy" and an average target price of $91.95.

Insider Transactions at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 10,176 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total value of $889,280.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel J. Murtagh sold 20,872 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the completion of the sale, the insider owned 58,999 shares of the company's stock, valued at approximately $5,310,499.99. This represents a 26.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,905 shares of company stock valued at $10,530,833. 6.30% of the stock is owned by company insiders.

Charles Schwab Stock Up 0.8%

SCHW traded up $0.70 during trading hours on Thursday, hitting $93.02. 6,740,525 shares of the company's stock were exchanged, compared to its average volume of 9,563,448. The Charles Schwab Corporation has a 1-year low of $61.01 and a 1-year high of $93.38. The stock's 50-day moving average is $88.12 and its two-hundred day moving average is $81.16. The stock has a market cap of $169.01 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 0.98 and a beta of 0.93. 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 quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. The firm had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same quarter last year, the company posted $0.74 earnings per share. Sell-side analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.

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.