Vertrix Wealth Management LLC Takes Position in The Charles Schwab Corporation $SCHW

Key Points

• Vertrix Wealth Management initiated a new position in Charles Schwab in Q1, buying 11,945 shares worth about $1.123 million.
• Charles Schwab reported strong quarterly results, with EPS of $1.43 beating estimates and revenue of $6.48 billion topping forecasts; revenue also rose 15.8% year over year.
• The stock was up 3.8% in Thursday trading, and Wall Street remains constructive, with analysts assigning a consensus Moderate Buy rating and an average target price of $116.

Vertrix Wealth Management LLC bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,945 shares of the financial services provider's stock, valued at approximately $1,123,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Charles Schwab in the 4th quarter worth approximately $1,994,189,000. Primecap Management Co. CA lifted its stake in Charles Schwab by 9.7% during the 4th quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider's stock valued at $2,325,512,000 after acquiring an additional 2,066,884 shares during the period. Focus Partners Wealth boosted its holdings in shares of Charles Schwab by 716.5% in the 4th quarter. Focus Partners Wealth now owns 2,101,463 shares of the financial services provider's stock valued at $209,948,000 after acquiring an additional 1,844,095 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Charles Schwab by 292.7% in the 3rd quarter. First Trust Advisors LP now owns 2,206,320 shares of the financial services provider's stock valued at $210,637,000 after acquiring an additional 1,644,503 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Charles Schwab in the third quarter worth $142,594,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Trading Up 3.8%

SCHW stock opened at $95.74 on Thursday. The company's 50-day simple moving average is $90.26 and its 200-day simple moving average is $95.15. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The Charles Schwab Corporation has a 52-week low of $83.96 and a 52-week high of $107.50. The firm has a market cap of $166.50 billion, a P/E ratio of 19.00, a PEG ratio of 0.84 and a beta of 0.77.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.04. Charles Schwab had a return on equity of 23.05% and a net margin of 37.99%.The company had revenue of $6.48 billion for the quarter, compared to the consensus estimate of $6.39 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. Charles Schwab's revenue for the quarter was up 15.8% on a year-over-year basis. Charles Schwab has set its FY 2026 guidance at 5.700-5.800 EPS. As a group, equities analysts forecast that The Charles Schwab Corporation will post 6.14 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, May 8th. Charles Schwab's payout ratio is presently 25.40%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SCHW. TD Cowen boosted their target price on shares of Charles Schwab from $108.00 to $109.00 and gave the company a "buy" rating in a research report on Friday, May 15th. UBS Group cut their price target on Charles Schwab from $125.00 to $119.00 and set a "buy" rating on the stock in a research report on Wednesday, April 8th. Piper Sandler lifted their price objective on Charles Schwab from $103.00 to $105.00 and gave the company a "neutral" rating in a research note on Friday, May 15th. Barclays boosted their price objective on Charles Schwab from $117.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, May 15th. Finally, Keefe, Bruyette & Woods started coverage on Charles Schwab in a research note on Wednesday, April 8th. They issued an "outperform" rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $116.00.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 41,297 shares of the company's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $99.00, for a total transaction of $4,088,403.00. Following the completion of the transaction, the insider directly owned 57,972 shares in the company, valued at approximately $5,739,228. This represents a 41.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul V. Woolway sold 7,941 shares of Charles Schwab stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $100.00, for a total transaction of $794,100.00. Following the completion of the sale, the insider owned 29,866 shares in the company, valued at approximately $2,986,600. This trade represents a 21.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 59,700 shares of company stock valued at $5,889,131. 6.30% of the stock is owned by corporate insiders.

About Charles Schwab

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.