Pallas Capital Advisors LLC Takes $1.41 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Pallas Capital Advisors LLC purchased a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,997 shares of the financial services provider’s stock, valued at approximately $1,409,000.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings 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 valued at $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Charles Schwab by 2.5% during the fourth 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 increased its stake in shares of Charles Schwab by 1.3% during the fourth 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 acquiring an additional 265,708 shares during the period. 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 increased its stake in shares of Charles Schwab by 13.4% during the fourth 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 period. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SCHW. JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Wells Fargo & Company lowered their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Piper Sandler raised their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Truist Financial raised their price objective on shares of Charles Schwab from $84.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Finally, Barclays lowered their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.25.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the completion of the sale, the insider now owns 45,824 shares of the company’s stock, valued at $3,548,152.32. This trade represents a 6.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the sale, the director now directly owns 172,162 shares of the company’s stock, valued at $12,784,750.12. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,608 shares of company stock worth $8,392,040. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Trading Up 0.1%

NYSE SCHW opened at $88.27 on Wednesday. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $89.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market cap of $160.39 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 0.99 and a beta of 0.94. The firm’s 50 day moving average price is $82.20 and its two-hundred day moving average price is $79.73.

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 the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the previous year, the company posted $0.74 EPS. Equities analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed 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. This represents a $1.08 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab’s payout ratio is 32.73%.

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.