Ruane Cunniff & Goldfarb L.P. Has $443.10 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Ruane Cunniff & Goldfarb L.P. cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 15.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,714,780 shares of the financial services provider’s stock after selling 880,168 shares during the quarter. Charles Schwab comprises 7.4% of Ruane Cunniff & Goldfarb L.P.’s portfolio, making the stock its 3rd biggest holding. Ruane Cunniff & Goldfarb L.P.’s holdings in Charles Schwab were worth $443,095,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Dogwood Wealth Management LLC grew its stake in Charles Schwab by 99.2% in the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after buying an additional 123 shares during the last quarter. Piscataqua Savings Bank acquired a new stake in Charles Schwab during the fourth quarter worth approximately $26,000. Scarborough Advisors LLC bought a new stake in shares of Charles Schwab during the first quarter worth approximately $29,000. Optima Capital LLC bought a new stake in shares of Charles Schwab during the fourth quarter worth approximately $30,000. Finally, McIlrath & Eck LLC grew its position in shares of Charles Schwab by 143.2% in the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 189 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SCHW. TD Cowen increased their target price on Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Truist Financial decreased their price objective on Charles Schwab from $122.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Morgan Stanley increased their price objective on Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup reissued a “market outperform” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Finally, Piper Sandler set a $118.00 target price on shares of Charles Schwab in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.94.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,000 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $100.01, for a total transaction of $200,020.00. Following the completion of the sale, the insider directly owned 13,738 shares in the company, valued at approximately $1,373,937.38. This represents a 12.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 2.2%

Shares of SCHW opened at $104.19 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $107.50. The firm’s 50 day moving average is $94.17 and its 200-day moving average is $95.34. The stock has a market capitalization of $181.19 billion, a PE ratio of 18.94, a P/E/G ratio of 0.83 and a beta of 0.77.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. The business had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. Equities research analysts forecast that The Charles Schwab Corporation will post 6.43 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 annualized dividend and a yield of 1.2%. Charles Schwab’s payout ratio is currently 23.27%.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.