Charles Schwab (NYSE:SCHW) Reaches New 12-Month High at $74.41

The Charles Schwab Co. (NYSE:SCHW - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $74.41 and last traded at $74.21, with a volume of 1903447 shares changing hands. The stock had previously closed at $73.42.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SCHW shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $75.00 to $77.00 and gave the company a "buy" rating in a research report on Tuesday, March 19th. Bank of America upped their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the stock an "underperform" rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $86.00 to $89.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 16th. Piper Sandler upped their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an "overweight" rating in a research report on Friday, April 12th. Finally, Morgan Stanley upped their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $74.47.

Charles Schwab Trading Up 1.1 %

The company has a market cap of $131.88 billion, a PE ratio of 31.07, a P/E/G ratio of 1.07 and a beta of 1.01. The stock's 50 day moving average is $68.77 and its 200-day moving average is $63.35. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab's dividend payout ratio is currently 41.84%.

Insider Activity

In other news, Chairman Charles R. Schwab sold 16,390 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $63.94, for a total value of $1,047,976.60. Following the sale, the chairman now owns 61,331,688 shares of the company's stock, valued at $3,921,548,130.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Jonathan M. Craig sold 4,977 shares of the firm's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $70.01, for a total value of $348,439.77. Following the transaction, the insider now owns 81,446 shares of the company's stock, valued at approximately $5,702,034.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 16,390 shares of the firm's stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the completion of the transaction, the chairman now directly owns 61,331,688 shares in the company, valued at approximately $3,921,548,130.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 308,800 shares of company stock valued at $20,823,609. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Investment Research & Advisory Group Inc. grew its holdings in Charles Schwab by 1.0% during the 4th quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider's stock worth $4,058,000 after acquiring an additional 607 shares in the last quarter. Bamco Inc. NY boosted its holdings in shares of Charles Schwab by 0.5% in the 3rd quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider's stock valued at $444,826,000 after buying an additional 42,588 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Charles Schwab by 43.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider's stock valued at $30,287,000 after buying an additional 166,316 shares in the last quarter. Wright Investors Service Inc. boosted its holdings in shares of Charles Schwab by 9.3% in the 4th quarter. Wright Investors Service Inc. now owns 47,164 shares of the financial services provider's stock valued at $3,245,000 after buying an additional 4,001 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Charles Schwab by 22.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider's stock valued at $60,776,000 after buying an additional 160,719 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

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.