The Charles Schwab Co. (NYSE:SCHW) Stock Position Decreased by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC cut its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,622 shares of the financial services provider’s stock after selling 187 shares during the period. Sonora Investment Management Group LLC’s holdings in Charles Schwab were worth $362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Charles Schwab by 28.2% during the 1st quarter. GAMMA Investing LLC now owns 27,122 shares of the financial services provider’s stock worth $2,123,000 after purchasing an additional 5,973 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of Charles Schwab by 10.5% during the 1st quarter. Yousif Capital Management LLC now owns 212,673 shares of the financial services provider’s stock worth $16,648,000 after purchasing an additional 20,200 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Charles Schwab by 9.5% during the 1st quarter. Bruce G. Allen Investments LLC now owns 3,184 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 277 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Charles Schwab during the 1st quarter worth about $1,409,000. Finally, WFA Asset Management Corp acquired a new position in shares of Charles Schwab during the 1st quarter valued at about $33,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $88.27 on Wednesday. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $89.85. The firm has a market capitalization of $160.39 billion, a PE ratio of 29.52, a PEG ratio of 0.99 and a beta of 0.94. The business’s 50 day moving average is $82.20 and its 200-day moving average is $79.73. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced 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 return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the firm earned $0.74 EPS. Sell-side analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, May 9th. Charles Schwab’s payout ratio is presently 32.73%.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a research note on Tuesday, April 22nd. Barclays cut their price objective on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Piper Sandler raised their price objective on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. TD Securities raised their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company cut their price objective on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.25.

Insider Buying and Selling

In related news, insider Jonathan M. Craig sold 47,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 8,614 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $80.00, for a total value of $689,120.00. Following the transaction, the insider now owns 49,204 shares of the company’s stock, valued at $3,936,320. This trade represents a 14.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,608 shares of company stock worth $8,392,040 in the last 90 days. 6.30% of the stock is owned by company insiders.

Charles Schwab Company 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.