The Charles Schwab Corporation (NYSE:SCHW) Shares Sold by Advocate Group LLC

Advocate Group LLC lessened its position in The Charles Schwab Corporation (NYSE:SCHW) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,930 shares of the financial services provider’s stock after selling 1,236 shares during the period. Charles Schwab makes up 1.7% of Advocate Group LLC’s portfolio, making the stock its 17th biggest position. Advocate Group LLC’s holdings in Charles Schwab were worth $9,388,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Atwood & Palmer Inc. bought a new stake in shares of Charles Schwab during the first quarter valued at approximately $25,000. WFA Asset Management Corp acquired a new stake in Charles Schwab in the 1st quarter valued at approximately $33,000. Beacon Capital Management LLC raised its stake in Charles Schwab by 53.1% during the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 169 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Charles Schwab during the 4th quarter worth $38,000. Finally, Atala Financial Inc acquired a new position in Charles Schwab during the 4th quarter worth $41,000. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Down 0.7%

Shares of Charles Schwab stock opened at $89.25 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $90.60. The stock has a 50-day moving average price of $84.81 and a 200 day moving average price of $80.12. The company has a market cap of $162.16 billion, a P/E ratio of 27.04, a P/E/G ratio of 0.96 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared 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 1.21%. The ex-dividend date was Friday, May 9th. Charles Schwab’s dividend payout ratio is currently 32.73%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company cut 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. TD Securities boosted their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Finally, Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and upped their target price for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.40.

Insider Transactions at Charles Schwab

In other news, insider Jonathan M. Craig sold 47,500 shares of Charles Schwab stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nigel J. Murtagh sold 20,872 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $1,878,688.72. Following the completion of the sale, the insider now directly owns 58,999 shares of the company’s stock, valued at approximately $5,310,499.99. The trade was a 26.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,609 shares of company stock valued at $11,182,440. 6.30% of the stock is owned by insiders.

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.