Spire Wealth Management Increases Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

Spire Wealth Management grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 53.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,589 shares of the financial services provider's stock after acquiring an additional 47,939 shares during the quarter. Spire Wealth Management's holdings in Charles Schwab were worth $10,771,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Golden State Equity Partners increased its stake in shares of Charles Schwab by 4.0% in the 1st quarter. Golden State Equity Partners now owns 12,692 shares of the financial services provider's stock worth $994,000 after purchasing an additional 485 shares in the last quarter. Cornerstone Wealth Group LLC bought a new stake in shares of Charles Schwab during the 1st quarter valued at $211,000. Balboa Wealth Partners increased its stake in Charles Schwab by 31.2% in the 1st quarter. Balboa Wealth Partners now owns 10,656 shares of the financial services provider's stock worth $834,000 after buying an additional 2,535 shares in the last quarter. Sheets Smith Wealth Management raised its stake in Charles Schwab by 3.7% during the 1st quarter. Sheets Smith Wealth Management now owns 7,969 shares of the financial services provider's stock valued at $624,000 after purchasing an additional 283 shares during the period. Finally, Chevy Chase Trust Holdings LLC lifted its holdings in shares of Charles Schwab by 14.0% in the first quarter. Chevy Chase Trust Holdings LLC now owns 909,148 shares of the financial services provider's stock worth $71,168,000 after buying an additional 111,813 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

NYSE:SCHW traded down $0.25 during midday trading on Thursday, hitting $89.55. The company's stock had a trading volume of 11,575,208 shares, compared to its average volume of 9,494,018. 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 fifty-two week low of $61.01 and a fifty-two week high of $90.85. The firm's 50 day moving average is $85.57 and its 200-day moving average is $80.28. The firm has a market cap of $162.70 billion, a P/E ratio of 27.14, a P/E/G ratio of 0.96 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period last year, the company earned $0.74 earnings per share. Equities analysts anticipate 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. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.21%. Charles Schwab's dividend payout ratio is presently 32.73%.

Insider Activity at Charles Schwab

In other news, Director Frank C. Herringer sold 3,592 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the transaction, the director now directly owns 172,162 shares of the company's stock, valued at approximately $12,784,750.12. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,995 shares of company stock worth $10,493,320. 6.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. 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 research report on Friday, April 25th. TD Securities boosted their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. JMP Securities restated a "market outperform" rating and set a $94.00 target price on shares of Charles Schwab in a research report on Monday, April 21st. Finally, Barclays reduced their price objective on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.40.

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.