Steel Grove Capital Advisors LLC Has $244,000 Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

Steel Grove Capital Advisors LLC cut its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 54.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,120 shares of the financial services provider’s stock after selling 3,730 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Charles Schwab were worth $244,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Klingman & Associates LLC grew its holdings in shares of Charles Schwab by 3.2% during the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 125 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its position in Charles Schwab by 2.7% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider’s stock valued at $353,000 after buying an additional 127 shares in the last quarter. Personal CFO Solutions LLC grew its stake in shares of Charles Schwab by 1.2% during the fourth quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider’s stock worth $832,000 after buying an additional 130 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Charles Schwab by 2.1% during the first quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider’s stock worth $513,000 after buying an additional 132 shares during the last quarter. Finally, O ROURKE & COMPANY Inc lifted its stake in shares of Charles Schwab by 1.1% in the 4th quarter. O ROURKE & COMPANY Inc now owns 12,958 shares of the financial services provider’s stock valued at $959,000 after acquiring an additional 142 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the transaction, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 8,614 shares of the company’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 directly owns 49,204 shares in the company, valued at $3,936,320. The trade was a 14.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,608 shares of company stock valued at $8,392,040 over the last ninety days. 6.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of recent research reports. Piper Sandler upped their target price on Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Barclays reduced their price target on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Keefe, Bruyette & Woods lifted 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. TD Securities raised their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Finally, Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.40.

Charles Schwab Stock Up 1.1%

Shares of NYSE:SCHW opened at $89.90 on Thursday. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $90.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The business’s 50-day moving average is $84.24 and its 200-day moving average is $80.01. The company has a market capitalization of $163.35 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 0.95 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results 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 analyst estimates of $5.46 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. During the same period in the previous year, the firm earned $0.74 earnings per share. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.20%. Charles Schwab’s payout ratio is presently 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.