Spectrum Asset Management Inc. NB CA Grows Stake in The Charles Schwab Co. (NYSE:SCHW)

Spectrum Asset Management Inc. NB CA grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,378 shares of the financial services provider’s stock after acquiring an additional 747 shares during the quarter. Charles Schwab comprises approximately 2.3% of Spectrum Asset Management Inc. NB CA’s portfolio, making the stock its 13th biggest holding. Spectrum Asset Management Inc. NB CA’s holdings in Charles Schwab were worth $5,196,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in SCHW. Ferguson Wellman Capital Management Inc. lifted its holdings in Charles Schwab by 107.8% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 6,059 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 3,143 shares in the last quarter. Simon Quick Advisors LLC raised its position in shares of Charles Schwab by 19.0% in the first quarter. Simon Quick Advisors LLC now owns 10,342 shares of the financial services provider’s stock valued at $810,000 after buying an additional 1,654 shares during the last quarter. Ulland Investment Advisors LLC boosted its position in Charles Schwab by 6.9% during the first quarter. Ulland Investment Advisors LLC now owns 2,245 shares of the financial services provider’s stock worth $176,000 after acquiring an additional 145 shares during the last quarter. Focus Financial Network Inc. boosted its stake in shares of Charles Schwab by 2.8% in the first quarter. Focus Financial Network Inc. now owns 19,040 shares of the financial services provider’s stock valued at $1,490,000 after purchasing an additional 518 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV acquired a new stake in shares of Charles Schwab during the first quarter valued at about $112,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 2,850 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the transaction, the insider now owns 15,219 shares of the company’s stock, valued at $1,332,727.83. This represents a 15.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $87.68, for a total transaction of $288,467.20. Following the completion of the sale, the insider now directly owns 39,154 shares in the company, valued at approximately $3,433,022.72. This represents a 7.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,608 shares of company stock worth $8,392,040 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 0.1%

Shares of SCHW opened at $88.36 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $160.55 billion, a PE ratio of 29.55, a P/E/G ratio of 0.99 and a beta of 0.94. The firm’s 50 day moving average is $82.58 and its 200-day moving average is $79.79. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $89.85.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share 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 analysts’ expectations of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the previous year, the firm earned $0.74 EPS. Equities research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.22%. Charles Schwab’s payout ratio is 32.73%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SCHW. Morgan Stanley upped their target price on shares of Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $65.00 to $82.00 in a research note on Monday. Truist Financial upped their price target on shares of Charles Schwab from $84.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, TD Securities raised their target price on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus target price of $89.25.

Charles Schwab Company 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.