Praxis Investment Management Inc. Acquires 1,320 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Praxis Investment Management Inc. lifted its position in The Charles Schwab Corporation (NYSE:SCHW) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,360 shares of the financial services provider’s stock after buying an additional 1,320 shares during the quarter. Praxis Investment Management Inc.’s holdings in Charles Schwab were worth $2,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SCHW. Norges Bank bought a new position in Charles Schwab during the fourth quarter worth $1,289,544,000. Kovitz Investment Group Partners LLC lifted its position in Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock worth $814,545,000 after purchasing an additional 8,584,173 shares during the period. FMR LLC raised its stake in Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock worth $717,898,000 after acquiring an additional 3,974,940 shares in the last quarter. Marshall Wace LLP raised its stake in Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock worth $309,451,000 after acquiring an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA raised its stake in Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after acquiring an additional 3,216,000 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Down 0.7%

Shares of Charles Schwab stock opened at $89.25 on Friday. The stock has a fifty day moving average price of $84.81 and a 200-day moving average price of $80.12. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $90.60. The firm has a market cap of $162.16 billion, a PE ratio of 27.04, a P/E/G ratio of 0.96 and a beta of 0.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter last year, the company earned $0.74 EPS. Equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.21%. Charles Schwab’s dividend payout ratio (DPR) is presently 32.73%.

Insider Activity

In related news, Director Frank C. Herringer sold 3,592 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the transaction, the director now directly owns 172,162 shares of the company’s stock, valued at approximately $12,784,750.12. This trade represents a 2.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,609 shares of company stock worth $11,182,440. 6.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SCHW has been the subject of several recent research reports. Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price target on Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a report on Tuesday, April 22nd. Wells Fargo & Company cut their price target on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Barclays cut their target price on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Finally, UBS Group increased their target price on Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.40.

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.