The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. boosted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 56.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,315 shares of the financial services provider’s stock after purchasing an additional 10,966 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Charles Schwab were worth $2,193,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SCHW. Price T Rowe Associates Inc. MD boosted its holdings in Charles Schwab by 33.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after purchasing an additional 17,369,091 shares during the period. Norges Bank acquired a new position in Charles Schwab in the fourth quarter worth $950,192,000. Ameriprise Financial Inc. boosted its holdings in shares of Charles Schwab by 186.2% during the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after acquiring an additional 4,624,302 shares during the period. Boston Partners boosted its holdings in shares of Charles Schwab by 424.7% during the fourth quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock valued at $305,400,000 after acquiring an additional 3,602,830 shares during the period. Finally, Morningstar Investment Services LLC boosted its holdings in shares of Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after acquiring an additional 2,322,156 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock traded up $0.13 during midday trading on Friday, hitting $73.69. The company’s stock had a trading volume of 8,997,560 shares, compared to its average volume of 5,743,318. 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 stock’s 50-day moving average price is $74.42 and its 200-day moving average price is $69.78. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The company has a market capitalization of $130.97 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 1.14 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Analysts anticipate that The Charles Schwab Co. will post 3.25 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.36%. Charles Schwab’s payout ratio is presently 41.84%.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the sale, the chairman now owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the sale, the chairman now owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nigel J. Murtagh sold 10,000 shares of Charles Schwab stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.40, for a total value of $724,000.00. Following the transaction, the insider now directly owns 71,446 shares in the company, valued at approximately $5,172,690.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 658,663 shares of company stock worth $48,997,146. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several analyst reports. TD Cowen reduced their price target on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Morgan Stanley boosted their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Bank of America boosted their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a report on Tuesday, April 16th. Piper Sandler boosted their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, UBS Group upped their price objective on shares of Charles Schwab from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.56.

Charles Schwab Company 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.