The Charles Schwab Corporation (NYSE:SCHW) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC trimmed its position in The Charles Schwab Corporation (NYSE:SCHW) by 57.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,269 shares of the financial services provider’s stock after selling 15,391 shares during the period. Palisade Asset Management LLC’s holdings in Charles Schwab were worth $882,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Advisors LLC boosted its holdings in Charles Schwab by 6.2% in the first quarter. Legacy Advisors LLC now owns 9,038 shares of the financial services provider’s stock worth $707,000 after purchasing an additional 531 shares during the period. GHP Investment Advisors Inc. lifted its position in shares of Charles Schwab by 3.9% in the 1st quarter. GHP Investment Advisors Inc. now owns 67,719 shares of the financial services provider’s stock worth $5,301,000 after buying an additional 2,560 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Charles Schwab by 14.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 729,109 shares of the financial services provider’s stock valued at $57,075,000 after buying an additional 91,152 shares during the period. Continuum Advisory LLC boosted its holdings in shares of Charles Schwab by 160.4% in the 1st quarter. Continuum Advisory LLC now owns 23,444 shares of the financial services provider’s stock valued at $1,835,000 after buying an additional 14,442 shares during the period. Finally, JFS Wealth Advisors LLC grew its position in shares of Charles Schwab by 0.9% during the 1st quarter. JFS Wealth Advisors LLC now owns 25,251 shares of the financial services provider’s stock valued at $1,977,000 after buying an additional 226 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their target price on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. TD Securities upped their price objective on Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 target price on shares of Charles Schwab in a research report on Monday, April 21st. Finally, Piper Sandler raised their target price on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.40.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 10,129 shares of Charles Schwab stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the transaction, the insider now owns 39,154 shares in the company, valued at approximately $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 20,872 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the completion of the transaction, the insider now owns 58,999 shares of the company’s stock, valued at approximately $5,310,499.99. The trade was a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,995 shares of company stock worth $10,493,320 in the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Down 1.0%

Shares of SCHW stock opened at $88.30 on Tuesday. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $90.60. 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’s fifty day moving average is $85.04 and its 200-day moving average is $80.15. The stock has a market cap of $160.44 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.46 billion. During the same period in the previous year, the company earned $0.74 earnings per share. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. Charles Schwab’s dividend payout ratio is currently 32.73%.

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.