KMG Fiduciary Partners LLC Reduces Position in The Charles Schwab Co. (NYSE:SCHW)

KMG Fiduciary Partners LLC lessened its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 5,899 shares of the financial services provider’s stock after selling 299 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Charles Schwab were worth $462,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Beach Investment Counsel Inc. PA purchased a new position in shares of Charles Schwab in the 1st quarter valued at approximately $208,000. Miracle Mile Advisors LLC grew its stake in shares of Charles Schwab by 0.4% in the 1st quarter. Miracle Mile Advisors LLC now owns 41,900 shares of the financial services provider’s stock valued at $3,280,000 after purchasing an additional 161 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Charles Schwab by 9.7% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 48,203 shares of the financial services provider’s stock valued at $3,773,000 after purchasing an additional 4,275 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Charles Schwab by 11.9% in the 1st quarter. Wedmont Private Capital now owns 16,307 shares of the financial services provider’s stock valued at $1,255,000 after purchasing an additional 1,739 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its stake in shares of Charles Schwab by 4.3% in the 1st quarter. Sivia Capital Partners LLC now owns 3,744 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 154 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In other news, 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 value of $288,467.20. Following the completion of the transaction, the insider now directly owns 39,154 shares of the company’s stock, valued at $3,433,022.72. The trade was a 7.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan M. Craig sold 47,500 shares of the business’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total value of $4,201,850.00. The disclosure for this sale can be found here. Insiders sold a total of 97,608 shares of company stock valued at $8,392,040 over the last three months. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $88.25 on Monday. The stock has a fifty day moving average price of $81.74 and a 200 day moving average price of $79.62. The stock has a market cap of $160.35 billion, a PE ratio of 29.52, a P/E/G ratio of 0.99 and a beta of 0.94. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $89.85. 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 issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping 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 posted $0.74 earnings per share. Sell-side analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared 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 was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.22%. Charles Schwab’s dividend payout ratio (DPR) is 32.73%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Piper Sandler lifted their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. TD Securities lifted their price target on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Wells Fargo & Company decreased their price target on 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 Charles Schwab from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Finally, UBS Group lifted their price target on Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, 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.