2,992 Shares in The Charles Schwab Co. (NYSE:SCHW) Purchased by Cornerstone Advisory LLC

Cornerstone Advisory LLC bought a new stake in The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,992 shares of the financial services provider’s stock, valued at approximately $240,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Charles Schwab in the 4th quarter valued at $1,289,544,000. Kovitz Investment Group Partners LLC raised its position in shares of Charles Schwab by 354.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock valued at $814,545,000 after buying an additional 8,584,173 shares during the last quarter. FMR LLC lifted its stake in shares of Charles Schwab by 69.4% in the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock worth $717,898,000 after buying an additional 3,974,940 shares in the last quarter. Marshall Wace LLP boosted its position in Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock worth $309,451,000 after acquiring an additional 3,684,640 shares during the last quarter. Finally, Primecap Management Co. CA grew its stake in Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock valued at $314,716,000 after acquiring an additional 3,216,000 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SCHW shares. Truist Financial raised their target price on shares of Charles Schwab from $84.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. The Goldman Sachs Group raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Friday, April 25th. Wells Fargo & Company cut their target price on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group boosted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.63.

Insider Buying and Selling

In related news, insider Jonathan M. Craig sold 47,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following the sale, the insider now owns 57,818 shares in the company, valued at approximately $4,586,123.76. This trade represents a 5.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,912 shares of company stock valued at $7,216,647. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 0.4%

Shares of SCHW stock opened at $87.24 on Friday. The company has a 50-day moving average of $79.77 and a two-hundred day moving average of $78.84. The firm has a market cap of $158.51 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. 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 current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 30.31% and a return on equity of 18.20%. During the same quarter last year, the company posted $0.74 EPS. On average, analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, May 9th. Charles Schwab’s payout ratio is 32.73%.

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.