Pittenger & Anderson Inc. Raises Position in The Charles Schwab Corporation (NYSE:SCHW)

Pittenger & Anderson Inc. raised its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,122 shares of the financial services provider’s stock after buying an additional 1,682 shares during the period. Pittenger & Anderson Inc.’s holdings in Charles Schwab were worth $4,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. HM Payson & Co. increased its stake in Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 130 shares during the period. Cornerstone Wealth Management LLC grew its position in shares of Charles Schwab by 2.1% in the first quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 132 shares during the last quarter. Premier Path Wealth Partners LLC grew its position in shares of Charles Schwab by 1.8% in the first quarter. Premier Path Wealth Partners LLC now owns 7,817 shares of the financial services provider’s stock valued at $612,000 after purchasing an additional 140 shares during the last quarter. Sutton Place Investors LLC grew its position in shares of Charles Schwab by 1.6% in the first quarter. Sutton Place Investors LLC now owns 8,677 shares of the financial services provider’s stock valued at $679,000 after purchasing an additional 140 shares during the last quarter. Finally, O ROURKE & COMPANY Inc boosted its position in Charles Schwab by 1.1% during the fourth quarter. O ROURKE & COMPANY Inc now owns 12,958 shares of the financial services provider’s stock worth $959,000 after acquiring an additional 142 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Down 1.2%

Shares of SCHW opened at $91.96 on Friday. The company has a 50-day simple moving average of $88.53 and a 200-day simple moving average of $81.45. The firm has a market capitalization of $167.09 billion, a P/E ratio of 27.87, a P/E/G ratio of 0.97 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The Charles Schwab Corporation has a 52 week low of $61.01 and a 52 week high of $93.35.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SCHW. UBS Group lifted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods boosted 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. Truist Financial boosted their target price on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. TD Securities lifted their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Finally, Piper Sandler lifted their price target on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.70.

Insiders Place Their Bets

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the sale, the director directly owned 105,654 shares of the company’s stock, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. Insiders have sold a total of 119,905 shares of company stock valued at $10,530,833 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Charles Schwab 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.