The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Red Spruce Capital LLC

Red Spruce Capital LLC raised its position in The Charles Schwab Co. (NYSE:SCHW) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,180 shares of the financial services provider’s stock after buying an additional 149 shares during the period. Charles Schwab makes up about 1.5% of Red Spruce Capital LLC’s holdings, making the stock its 20th biggest holding. Red Spruce Capital LLC’s holdings in Charles Schwab were worth $3,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Charles Schwab by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock worth $9,516,075,000 after purchasing an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC increased its position in Charles Schwab by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock valued at $2,279,742,000 after acquiring an additional 760,043 shares during the period. Fisher Asset Management LLC grew its position in Charles Schwab by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after buying an additional 265,708 shares in the last quarter. Norges Bank acquired a new position in shares of Charles Schwab during the fourth quarter valued at approximately $1,289,544,000. Finally, Northern Trust Corp lifted its holdings in Charles Schwab by 13.4% in the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider’s stock valued at $1,164,911,000 after acquiring an additional 1,864,286 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SCHW. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and boosted their target price for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. UBS Group raised their target price on Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Friday, April 25th. Finally, Morgan Stanley boosted their price objective on Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.63.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan M. Craig sold 47,500 shares of Charles Schwab stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paula A. Sneed sold 8,647 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the transaction, the director now owns 105,654 shares of the company’s stock, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,735 shares of company stock worth $8,867,382 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

SCHW opened at $87.65 on Friday. The stock’s 50 day simple moving average is $80.68 and its 200-day simple moving average is $79.30. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market cap of $159.25 billion, a PE ratio of 29.31, a P/E/G 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.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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 in the previous year, the company earned $0.74 earnings per share. Sell-side analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.23%. Charles Schwab’s dividend payout ratio is currently 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.