Whittier Trust Co. of Nevada Inc. Buys 88,373 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Whittier Trust Co. of Nevada Inc. lifted its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 346.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,915 shares of the financial services provider's stock after purchasing an additional 88,373 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Charles Schwab were worth $8,917,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SCHW. Atwood & Palmer Inc. purchased a new stake in Charles Schwab in the first quarter worth about $25,000. Westside Investment Management Inc. lifted its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after buying an additional 150 shares during the period. WFA Asset Management Corp purchased a new stake in Charles Schwab in the first quarter worth about $33,000. Cornerstone Planning Group LLC lifted its holdings in Charles Schwab by 90.5% in the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock worth $36,000 after buying an additional 220 shares during the period. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Charles Schwab in the fourth quarter worth about $38,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 2.5%

Shares of SCHW traded up $2.33 on Friday, hitting $95.43. 16,047,211 shares of the stock traded hands, compared to its average volume of 9,390,973. The company has a market capitalization of $173.40 billion, a PE ratio of 28.94, a P/E/G ratio of 0.95 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The business has a 50 day simple moving average of $89.21 and a 200 day simple moving average of $81.89. The Charles Schwab Corporation has a one year low of $61.15 and a one year high of $98.49.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm's quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 earnings per share. As a group, equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.

Insiders Place Their Bets

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction that occurred 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 owned 105,654 shares of the company's stock, valued at approximately $9,303,891.24. The trade was a 7.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction that occurred on Thursday, May 22nd. The stock was 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. Insiders have sold a total of 119,905 shares of company stock worth $10,530,833 in the last 90 days. Insiders own 6.30% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler raised their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday. Barclays restated an "overweight" rating on shares of Charles Schwab in a report on Friday. Raymond James Financial restated an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a report on Friday. William Blair lowered shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Finally, Redburn Atlantic upgraded shares of 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 report on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab has an average rating of "Moderate Buy" and an average price target of $95.60.

About Charles Schwab

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.