Partners Capital Investment Group LLP acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 32,995 shares of the financial services provider’s stock, valued at approximately $3,044,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dogwood Wealth Management LLC increased its position in Charles Schwab by 99.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock worth $25,000 after buying an additional 123 shares during the period. Compass Financial Management LLC purchased a new position in shares of Charles Schwab during the second quarter worth approximately $27,000. Scarborough Advisors LLC purchased a new position in shares of Charles Schwab during the first quarter worth approximately $29,000. McIlrath & Eck LLC increased its holdings in shares of Charles Schwab by 143.2% in the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 189 shares during the period. Finally, Allworth Financial LP acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $75,000. Institutional investors and hedge funds own 84.38% of the company’s stock.
Charles Schwab Stock Up 1.2%
SCHW opened at $113.63 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $196.51 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 0.84 and a beta of 0.76. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $114.53. The business’s fifty day moving average is $102.05 and its two-hundred day moving average is $96.16.
Charles Schwab Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is 23.27%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on SCHW. Barclays increased their price target on shares of Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Argus lifted their price objective on shares of Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Piper Sandler set a $118.00 target price on shares of Charles Schwab in a report on Tuesday, July 21st. Wolfe Research reiterated an “outperform” rating and set a $127.00 target price on shares of Charles Schwab in a research note on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $121.17.
Read Our Latest Stock Report on Charles Schwab
Insider Activity
In other Charles Schwab news, General Counsel Peter J. Morgan III sold 6,952 shares of Charles Schwab stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $102.03, for a total transaction of $709,312.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nigel J. Murtagh sold 32,947 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $104.01, for a total transaction of $3,426,817.47. Following the completion of the sale, the insider directly owned 57,972 shares in the company, valued at $6,029,667.72. This trade represents a 36.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 398,984 shares of company stock worth $41,699,569 in the last three months. Company insiders own 6.30% of the company’s stock.
Charles Schwab Profile
Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.
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