Edge Capital Group LLC Reduces Position in The Charles Schwab Co. (NYSE:SCHW)

Edge Capital Group LLC decreased its position in The Charles Schwab Co. (NYSE:SCHWFree Report) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,595 shares of the financial services provider’s stock after selling 448 shares during the quarter. Edge Capital Group LLC’s holdings in Charles Schwab were worth $660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. WealthPlan Investment Management LLC purchased a new position in Charles Schwab during the third quarter worth about $1,458,000. Jump Financial LLC acquired a new stake in shares of Charles Schwab during the 3rd quarter worth $421,000. Western Wealth Management LLC raised its position in shares of Charles Schwab by 5.4% in the 3rd quarter. Western Wealth Management LLC now owns 9,876 shares of the financial services provider’s stock worth $542,000 after buying an additional 504 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Charles Schwab in the third quarter valued at $19,682,000. Finally, Spire Wealth Management increased its stake in Charles Schwab by 14.0% during the third quarter. Spire Wealth Management now owns 17,585 shares of the financial services provider’s stock worth $965,000 after acquiring an additional 2,158 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related news, CFO Peter B. Crawford sold 5,482 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $73.46, for a total transaction of $402,707.72. Following the transaction, the chief financial officer now owns 60,567 shares of the company’s stock, valued at $4,449,251.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $78.41, for a total value of $705,690.00. Following the sale, the director now directly owns 574,257 shares of the company’s stock, valued at $45,027,491.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Peter B. Crawford sold 5,482 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $73.46, for a total value of $402,707.72. Following the sale, the chief financial officer now owns 60,567 shares of the company’s stock, valued at approximately $4,449,251.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 655,476 shares of company stock valued at $48,718,705. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

NYSE:SCHW opened at $74.39 on Thursday. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The firm has a market cap of $132.21 billion, a P/E ratio of 31.13, a PEG ratio of 1.10 and a beta of 0.96. The business’s 50-day moving average price is $73.89 and its 200 day moving average price is $68.20.

Charles Schwab (NYSE:SCHWGet Free Report) last released its earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. As a group, sell-side analysts predict that The Charles Schwab Co. will post 3.26 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio is 41.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SCHW. Piper Sandler boosted their target price on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. TD Cowen dropped their price objective on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Citigroup upped their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Charles Schwab from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and an average target price of $74.65.

Get Our Latest Stock Analysis on Charles Schwab

Charles Schwab Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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