Verity Asset Management Inc. Increases Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Verity Asset Management Inc. increased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 108.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,924 shares of the financial services provider's stock after buying an additional 7,760 shares during the period. Verity Asset Management Inc.'s holdings in Charles Schwab were worth $1,168,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SCHW. Brighton Jones LLC increased its stake in shares of Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after buying an additional 19,195 shares during the period. QRG Capital Management Inc. increased its position in shares of Charles Schwab by 7.9% in the 4th quarter. QRG Capital Management Inc. now owns 26,699 shares of the financial services provider's stock valued at $1,976,000 after purchasing an additional 1,954 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Charles Schwab by 6.1% in the 4th quarter. Private Trust Co. NA now owns 5,368 shares of the financial services provider's stock valued at $397,000 after purchasing an additional 309 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Charles Schwab during the 4th quarter worth $6,420,000. Finally, Sherman Asset Management Inc. acquired a new position in shares of Charles Schwab during the fourth quarter worth $112,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

Shares of SCHW stock traded up $1.28 during midday trading on Monday, hitting $91.26. The company had a trading volume of 9,523,611 shares, compared to its average volume of 9,511,687. The stock has a market cap of $165.82 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 0.96 and a beta of 0.94. 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 company's 50 day simple moving average is $86.10 and its 200 day simple moving average is $80.36. The Charles Schwab Corporation has a 52-week low of $61.01 and a 52-week high of $91.41.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same period last year, the firm posted $0.74 EPS. Research 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. Stockholders 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 dividend yield of 1.18%. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

Insider Activity

In related news, insider Jonathan M. Craig sold 47,500 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paula A. Sneed sold 8,647 shares of the firm's 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 completion of the sale, the director directly owned 105,654 shares of the company's stock, valued at approximately $9,303,891.24. This trade represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,995 shares of company stock valued at $10,493,320 over the last ninety days. 6.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of analyst reports. UBS Group raised their price target on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 22nd. Citigroup raised Charles Schwab from a "neutral" rating to a "buy" rating and upped their price target for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. Piper Sandler raised their price objective on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Finally, Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.