The Charles Schwab Co. (NYSE:SCHW) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 15.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,458 shares of the financial services provider’s stock after selling 795 shares during the quarter. SteelPeak Wealth LLC’s holdings in Charles Schwab were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Charles Schwab by 33.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after purchasing an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Charles Schwab by 4.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after acquiring an additional 1,219,015 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Charles Schwab by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock worth $1,281,584,000 after acquiring an additional 296,317 shares during the period. Norges Bank purchased a new position in shares of Charles Schwab during the 4th quarter worth about $950,192,000. Finally, Putnam Investments LLC boosted its position in shares of Charles Schwab by 4.8% in the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after acquiring an additional 560,110 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley increased their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. cut their target price on Charles Schwab from $89.00 to $81.00 and set an “overweight” rating on the stock in a research report on Friday, May 31st. Bank of America lifted their target price on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a report on Tuesday, April 16th. Barclays upped their price target on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $76.00 price objective on shares of Charles Schwab in a research note on Monday, June 17th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.56.

Insider Transactions at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the sale, the chairman now directly owns 30,641,981 shares of the company’s stock, valued at $2,286,504,622.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 24,520 shares of Charles Schwab stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 658,663 shares of company stock valued at $48,997,146. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $73.69 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The company’s fifty day moving average price is $74.42 and its two-hundred day moving average price is $69.84. The firm has a market capitalization of $130.97 billion, a P/E ratio of 30.83, a P/E/G ratio of 1.14 and a beta of 0.99. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.71 billion. On average, research analysts anticipate that The Charles Schwab Co. will post 3.25 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 24th. Stockholders of record on Friday, May 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, May 9th. Charles Schwab’s payout ratio is currently 41.84%.

About Charles Schwab

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.