The Charles Schwab Corporation (NYSE:SCHW) Shares Bought by Balboa Wealth Partners

Balboa Wealth Partners lifted its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 31.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,656 shares of the financial services provider’s stock after purchasing an additional 2,535 shares during the quarter. Balboa Wealth Partners’ holdings in Charles Schwab were worth $834,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Charles Schwab by 40.9% during the 4th quarter. Venturi Wealth Management LLC now owns 855 shares of the financial services provider’s stock valued at $63,000 after buying an additional 248 shares during the period. Sigma Planning Corp increased its holdings in shares of Charles Schwab by 11.9% during the 4th quarter. Sigma Planning Corp now owns 8,551 shares of the financial services provider’s stock worth $633,000 after buying an additional 909 shares during the last quarter. Wealthspire Advisors LLC lifted its holdings in shares of Charles Schwab by 2.8% during the 4th quarter. Wealthspire Advisors LLC now owns 45,308 shares of the financial services provider’s stock valued at $3,353,000 after acquiring an additional 1,232 shares in the last quarter. Finally, Howard Capital Management Inc. boosted its holdings in Charles Schwab by 7.5% in the 4th quarter. Howard Capital Management Inc. now owns 9,081 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 632 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $65.00 to $82.00 in a report on Monday, June 9th. JPMorgan Chase & Co. raised their target price on Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Truist Financial boosted their price target on Charles Schwab from $97.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Finally, The Goldman Sachs Group upgraded Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.40.

Charles Schwab Price Performance

NYSE SCHW opened at $88.30 on Tuesday. The company has a 50-day moving average price of $85.04 and a two-hundred day moving average price of $80.15. The Charles Schwab Corporation has a 52 week low of $61.01 and a 52 week high of $90.60. The stock has a market cap of $160.44 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW) last posted its earnings results 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. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same period last year, the firm earned $0.74 EPS. Analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a $0.27 dividend. 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 dividend payout ratio is presently 32.73%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 20,872 shares of the business’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $1,878,688.72. Following the sale, the insider now directly owns 58,999 shares in the company, valued at approximately $5,310,499.99. The trade was a 26.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 172,162 shares of the company’s stock, valued at $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,995 shares of company stock valued at $10,493,320. Company insiders own 6.30% of the company’s stock.

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.