Equity Investment Corp Has $122.40 Million Position in The Charles Schwab Corporation (NYSE:SCHW)

Equity Investment Corp lessened its position in The Charles Schwab Corporation (NYSE:SCHW) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,563,592 shares of the financial services provider’s stock after selling 41,215 shares during the quarter. Charles Schwab makes up about 2.7% of Equity Investment Corp’s portfolio, making the stock its 13th biggest position. Equity Investment Corp’s holdings in Charles Schwab were worth $122,398,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Financial LLC bought a new position in Charles Schwab in the fourth quarter valued at approximately $1,455,000. Graham Capital Management L.P. grew its stake in Charles Schwab by 248.3% in the fourth quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider’s stock valued at $8,317,000 after purchasing an additional 80,112 shares in the last quarter. World Investment Advisors grew its stake in Charles Schwab by 7.6% in the first quarter. World Investment Advisors now owns 163,007 shares of the financial services provider’s stock valued at $12,760,000 after purchasing an additional 11,505 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Charles Schwab by 14.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 146,392 shares of the financial services provider’s stock valued at $11,460,000 after purchasing an additional 18,280 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Charles Schwab by 17.2% in the first quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider’s stock valued at $15,631,000 after purchasing an additional 29,255 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Piper Sandler lifted their price target on Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday. The Goldman Sachs Group raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, April 25th. Finally, Raymond James Financial lifted their price objective on Charles Schwab from $91.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.60.

Charles Schwab Price Performance

Charles Schwab stock opened at $91.63 on Wednesday. The Charles Schwab Corporation has a one year low of $61.01 and a one year high of $93.35. The business has a fifty day moving average price of $88.89 and a 200-day moving average price of $81.69. 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 firm has a market capitalization of $166.49 billion, a P/E ratio of 27.77, a PEG ratio of 0.98 and a beta of 0.93.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data 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. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the company earned $0.74 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.18%. Charles Schwab’s dividend payout ratio is currently 32.73%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 10,176 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 10,129 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 $911,711.29. Following the transaction, the insider directly owned 39,154 shares of the company’s stock, valued at $3,524,251.54. This represents a 20.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,905 shares of company stock worth $10,530,833 over 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.