Wolff Wiese Magana LLC Has $1.34 Million Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Wolff Wiese Magana LLC grew its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 298.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,104 shares of the financial services provider's stock after purchasing an additional 12,807 shares during the quarter. Wolff Wiese Magana LLC's holdings in Charles Schwab were worth $1,339,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock worth $9,516,075,000 after acquiring an additional 1,187,384 shares during the period. Geode Capital Management LLC lifted its stake in shares of Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock worth $2,279,742,000 after acquiring an additional 760,043 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after acquiring an additional 265,708 shares during the period. Norges Bank acquired a new position in shares of Charles Schwab in the fourth quarter worth approximately $1,289,544,000. Finally, Northern Trust Corp lifted its stake in shares of Charles Schwab by 13.4% in the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock worth $1,164,911,000 after acquiring an additional 1,864,286 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Down 0.7%

NYSE SCHW opened at $89.25 on Friday. The company has a market cap of $162.16 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 0.95 and a beta of 0.94. The Charles Schwab Corporation has a 52 week low of $61.01 and a 52 week high of $90.60. The business has a 50 day moving average price of $84.81 and a 200-day moving average price of $80.12. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, equities analysts expect 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 declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.21%. Charles Schwab's dividend payout ratio (DPR) is currently 32.73%.

Insider Buying and Selling

In related news, Director Frank C. Herringer sold 3,592 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the sale, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 8,614 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $80.00, for a total value of $689,120.00. Following the sale, the insider now owns 49,204 shares of the company's stock, valued at $3,936,320. This trade represents a 14.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,609 shares of company stock worth $11,182,440. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SCHW shares. Citigroup raised Charles Schwab from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Truist Financial lifted their target price on Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, June 16th. JMP Securities reiterated a "market outperform" rating and issued a $94.00 target price on shares of Charles Schwab in a report on Monday, April 21st. Finally, Barclays lowered their target price on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $89.40.

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.

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