The Charles Schwab Corporation (NYSE:SCHW) Stake Boosted by Whitener Capital Management Inc.

Whitener Capital Management Inc. boosted its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 54.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,808 shares of the financial services provider's stock after purchasing an additional 6,278 shares during the period. Whitener Capital Management Inc.'s holdings in Charles Schwab were worth $1,394,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in Charles Schwab during the fourth quarter worth $1,289,544,000. Kovitz Investment Group Partners LLC increased 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 worth $814,545,000 after buying an additional 8,584,173 shares in the last quarter. FMR LLC increased 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 worth $717,898,000 after buying an additional 3,974,940 shares in the last quarter. Marshall Wace LLP grew its position in shares of Charles Schwab by 742.0% in 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, Primecap Management Co. CA grew its position in shares of Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after purchasing an additional 3,216,000 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SCHW. JMP Securities reaffirmed a "market outperform" rating and issued a $94.00 price objective on shares of Charles Schwab in a research report on Monday, April 21st. William Blair downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Truist Financial lifted their price objective on Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, Wells Fargo & Company lifted their price objective on Charles Schwab from $87.00 to $102.00 and gave the company an "overweight" rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $92.70.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 20,872 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the sale, the insider owned 58,999 shares in the company, valued at $5,310,499.99. This represents a 26.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul V. Woolway sold 3,290 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total value of $299,225.50. Following the sale, the insider owned 35,864 shares in the company, valued at $3,261,830.80. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,905 shares of company stock valued at $10,530,833. Company insiders own 6.30% of the company's stock.

Charles Schwab Stock Down 1.2%

Shares of SCHW traded down $1.08 during midday trading on Friday, reaching $91.96. 6,814,781 shares of the company were exchanged, compared to its average volume of 9,599,814. The Charles Schwab Corporation has a 1-year low of $61.01 and a 1-year high of $93.35. The company has a market cap of $167.09 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 0.97 and a beta of 0.93. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $88.53 and a 200-day moving average price of $81.45.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its 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. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the previous year, the company earned $0.74 earnings per share. Research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.

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.