Palisade Asset Management LLC Sells 15,391 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Palisade Asset Management LLC decreased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 57.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,269 shares of the financial services provider's stock after selling 15,391 shares during the period. Palisade Asset Management LLC's holdings in Charles Schwab were worth $882,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atwood & Palmer Inc. acquired a new position in Charles Schwab during the 1st quarter worth about $25,000. WFA Asset Management Corp acquired a new position in Charles Schwab during the 1st quarter worth about $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Charles Schwab in the 4th quarter valued at $38,000. Beacon Capital Management LLC increased its stake 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 valued at $38,000 after buying an additional 169 shares during the period. Finally, Atala Financial Inc acquired a new stake in shares of Charles Schwab in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SCHW. Morgan Stanley lifted their target price on Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Truist Financial lifted their target price on Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and lifted their target price for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Finally, JMP Securities reissued a "market outperform" rating and issued a $94.00 target price on shares of Charles Schwab in a research note on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.40.

Charles Schwab Stock Performance

Shares of SCHW stock traded up $0.93 on Tuesday, hitting $89.31. The company's stock had a trading volume of 9,756,252 shares, compared to its average volume of 9,463,683. The stock's 50 day moving average is $85.28 and its 200-day moving average is $80.21. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $90.60. The company has a market capitalization of $162.27 billion, a PE ratio of 27.06, a PEG ratio of 0.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. During the same quarter in the prior year, the business posted $0.74 earnings per share. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.21%. Charles Schwab's payout ratio is 32.73%.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,850 shares of the business'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 now owns 15,219 shares of the company's stock, valued at approximately $1,332,727.83. The trade was a 15.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 10,129 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $911,711.29. Following the completion of the sale, the insider now owns 39,154 shares in the company, valued at approximately $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,995 shares of company stock worth $10,493,320 over the last ninety days. Corporate insiders own 6.30% of the company's stock.

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.