The Charles Schwab Corporation (NYSE:SCHW) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lessened its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 60.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,035 shares of the financial services provider's stock after selling 7,751 shares during the period. Kingsview Wealth Management LLC's holdings in Charles Schwab were worth $394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Charles Schwab during the fourth quarter valued at approximately $1,289,544,000. Kovitz Investment Group Partners LLC lifted its position in Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after purchasing an additional 8,584,173 shares during the period. FMR LLC lifted its position in Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after purchasing an additional 3,974,940 shares during the period. Marshall Wace LLP lifted its position in Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after purchasing an additional 3,684,640 shares during the period. Finally, PointState Capital LP bought a new position in Charles Schwab during the fourth quarter valued at approximately $237,280,000. Institutional investors own 84.38% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SCHW. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday. Truist Financial increased their price target on shares of Charles Schwab from $100.00 to $107.00 and gave the stock a "buy" rating in a research report on Monday. Cowen reissued a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $99.00 target price on shares of Charles Schwab in a research note on Friday, July 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Charles Schwab has an average rating of "Moderate Buy" and a consensus price target of $98.65.

Charles Schwab Trading Up 0.6%

Shares of SCHW traded up $0.57 during mid-day trading on Friday, reaching $97.07. The stock had a trading volume of 6,112,920 shares, compared to its average volume of 10,253,323. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The Charles Schwab Corporation has a 52-week low of $61.15 and a 52-week high of $98.28. The business's fifty day moving average is $90.17 and its 200 day moving average is $82.64. The firm has a market cap of $176.38 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 0.91 and a beta of 0.93.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its 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. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. Charles Schwab's revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 earnings per share. On average, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared 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 1.11%. Charles Schwab's dividend payout ratio is presently 29.03%.

Charles Schwab declared that its board has authorized a share repurchase plan 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 repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Charles Schwab

In related news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction on 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 $9,303,891.24. This trade represents a 7.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total transaction of $299,225.50. Following the completion of the transaction, the insider owned 35,864 shares in the company, valued at approximately $3,261,830.80. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,313 shares of company stock valued at $10,264,091. Corporate insiders own 6.30% of the company's stock.

Charles Schwab 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.