Patriot Financial Group Insurance Agency LLC Boosts Position in The Charles Schwab Co. (NYSE:SCHW)

Patriot Financial Group Insurance Agency LLC raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 9.7% during the first quarter, Holdings Channel reports. The firm owned 48,203 shares of the financial services provider’s stock after buying an additional 4,275 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Charles Schwab were worth $3,773,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Charles Schwab in the 4th quarter worth about $38,000. Atala Financial Inc purchased a new stake in shares of Charles Schwab during the 4th quarter valued at about $41,000. Investors Research Corp boosted its holdings in shares of 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 acquiring an additional 240 shares during the last quarter. Knuff & Co LLC boosted its holdings in shares of Charles Schwab by 1,309.3% during the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 563 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of Charles Schwab in the 4th quarter worth approximately $46,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Frank C. Herringer sold 3,592 shares of the business’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paula A. Sneed sold 8,647 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the sale, the director now owns 105,654 shares in the company, valued at $9,303,891.24. This represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,608 shares of company stock worth $8,392,040. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent research reports. Truist Financial increased their price objective 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. Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Tuesday, May 20th. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and raised their target price for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. UBS Group raised their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Finally, Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.63.

Charles Schwab Trading Up 1.2%

Charles Schwab stock opened at $88.25 on Friday. The stock has a market cap of $160.35 billion, a P/E ratio of 29.52, a PEG ratio of 0.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $89.85. The firm’s 50 day moving average price is $81.74 and its 200-day moving average price is $79.63.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion for 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 business posted $0.74 earnings per share. On average, equities analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, May 9th. Charles Schwab’s dividend payout ratio is presently 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.