TD Private Client Wealth LLC Grows Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

TD Private Client Wealth LLC increased its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 307.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,808 shares of the financial services provider’s stock after buying an additional 14,943 shares during the period. TD Private Client Wealth LLC’s holdings in Charles Schwab were worth $1,551,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Atwood & Palmer Inc. acquired a new position in Charles Schwab in the 1st quarter valued at about $25,000. Westside Investment Management Inc. increased its position in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. WFA Asset Management Corp acquired a new stake in Charles Schwab during the 1st quarter worth approximately $33,000. Beacon Capital Management LLC increased its position 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 worth $38,000 after purchasing an additional 169 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Charles Schwab during the 4th quarter worth approximately $38,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. The Goldman Sachs Group raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Friday, April 25th. William Blair downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. UBS Group increased their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Finally, Citigroup increased their price objective on shares of Charles Schwab from $102.00 to $105.00 and gave the company a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.55.

Charles Schwab Stock Performance

Shares of SCHW opened at $92.00 on Wednesday. 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 stock has a market capitalization of $167.16 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $92.80. The business’s fifty day moving average price is $87.91 and its 200 day moving average price is $81.08.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations 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 last year, the business posted $0.74 earnings per share. Equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab’s payout ratio is 32.73%.

Insider Buying and Selling

In other news, General Counsel Peter J. Morgan III sold 10,176 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 20,872 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 58,999 shares in the company, valued at $5,310,499.99. This trade represents a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,905 shares of company stock valued at $10,530,833 in the last three months. 6.30% of the stock is owned by corporate 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.