Grassi Investment Management Sells 200 Shares of The Charles Schwab Co. (NYSE:SCHW)

Grassi Investment Management lowered its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.2% during the first quarter, HoldingsChannel reports. The firm owned 118,518 shares of the financial services provider’s stock after selling 200 shares during the quarter. Grassi Investment Management’s holdings in Charles Schwab were worth $9,278,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Brighton Jones LLC increased its stake in shares of Charles Schwab by 380.5% during the 4th 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. Optas LLC increased its position in Charles Schwab by 25.7% during the fourth quarter. Optas LLC now owns 4,708 shares of the financial services provider’s stock worth $348,000 after buying an additional 964 shares during the last quarter. Trust Point Inc. increased its position in Charles Schwab by 18.1% during the fourth quarter. Trust Point Inc. now owns 7,519 shares of the financial services provider’s stock worth $557,000 after buying an additional 1,152 shares during the last quarter. Retirement Systems of Alabama raised its stake in Charles Schwab by 5.5% in the fourth quarter. Retirement Systems of Alabama now owns 1,173,108 shares of the financial services provider’s stock valued at $86,822,000 after buying an additional 61,353 shares during the period. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $1,961,000. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 8,614 shares of Charles Schwab stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $80.00, for a total value of $689,120.00. Following the sale, the insider now directly owns 49,204 shares in the company, valued at approximately $3,936,320. This trade represents a 14.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, the director now owns 172,162 shares in the company, valued at $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,608 shares of company stock worth $8,392,040 in the last ninety days. 6.30% of the stock is owned by company insiders.

Charles Schwab Trading Down 0.6%

Shares of SCHW stock opened at $87.51 on Thursday. The company has a market capitalization of $159.00 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $89.85. The business’s fifty day moving average is $81.35 and its 200 day moving average is $79.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the firm posted $0.74 earnings per share. On average, equities research analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued 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 1.23%. Charles Schwab’s dividend payout ratio is currently 32.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Wells Fargo & Company decreased their price target on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Piper Sandler upped their target price on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods increased their target price on Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus target price of $89.63.

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.