Sagespring Wealth Partners LLC Raises Stake in The Charles Schwab Corporation (NYSE:SCHW)

Sagespring Wealth Partners LLC lifted its position in The Charles Schwab Corporation (NYSE:SCHW) by 43.3% in the first quarter, HoldingsChannel.com reports. The firm owned 9,036 shares of the financial services provider’s stock after purchasing an additional 2,732 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Charles Schwab were worth $707,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atwood & Palmer Inc. purchased a new stake in Charles Schwab in the 1st quarter worth $25,000. WFA Asset Management Corp bought a new position in shares of Charles Schwab in the first quarter worth about $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Charles Schwab in the fourth quarter worth about $38,000. Atala Financial Inc purchased a new stake in shares of Charles Schwab during the fourth quarter worth about $41,000. Finally, Investors Research Corp raised its stake in Charles Schwab by 75.2% during the 1st quarter. Investors Research Corp now owns 559 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 240 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Performance

NYSE:SCHW opened at $88.95 on Wednesday. The firm has a market capitalization of $161.61 billion, a PE ratio of 26.95, a PEG ratio of 0.95 and a beta of 0.94. The stock’s fifty day moving average is $83.96 and its 200 day moving average is $79.94. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $89.85. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53.

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 the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.21%. Charles Schwab’s dividend payout ratio (DPR) is presently 32.73%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SCHW. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 22nd. Truist Financial upped their target price on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. TD Securities lifted their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and increased their price objective for the company from $65.00 to $82.00 in a report on Monday, June 9th. Finally, Piper Sandler lifted their target price on Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $89.40.

Insider Activity

In other news, insider Paul V. Woolway sold 3,290 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $87.68, for a total transaction of $288,467.20. Following the completion of the sale, the insider now directly owns 39,154 shares of the company’s stock, valued at approximately $3,433,022.72. The trade was a 7.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan M. Craig sold 47,500 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,608 shares of company stock valued at $8,392,040. 6.30% of the stock is currently owned by insiders.

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.