The Charles Schwab Co. (NYSE:SCHW) Holdings Boosted by AMI Asset Management Corp

AMI Asset Management Corp grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,109,909 shares of the financial services provider’s stock after acquiring an additional 77,163 shares during the period. Charles Schwab comprises about 4.1% of AMI Asset Management Corp’s investment portfolio, making the stock its 4th biggest position. AMI Asset Management Corp’s holdings in Charles Schwab were worth $80,291,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Tributary Capital Management LLC purchased a new stake in shares of Charles Schwab in the first quarter worth about $31,000. Sugarloaf Wealth Management LLC raised its position in Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 165 shares during the period. Frazier Financial Advisors LLC purchased a new stake in Charles Schwab during the fourth quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. purchased a new stake in Charles Schwab during the fourth quarter valued at approximately $31,000. Finally, Hall Laurie J Trustee purchased a new stake in Charles Schwab during the fourth quarter valued at approximately $34,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the sale, the director now owns 570,657 shares in the company, valued at $41,366,925.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the sale, the director now owns 570,657 shares in the company, valued at approximately $41,366,925.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nigel J. Murtagh sold 10,000 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $72.40, for a total value of $724,000.00. Following the sale, the insider now owns 71,446 shares of the company’s stock, valued at approximately $5,172,690.40. The disclosure for this sale can be found here. Insiders sold a total of 658,663 shares of company stock worth $48,997,146 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Trading Down 0.0 %

NYSE:SCHW traded down $0.02 during midday trading on Thursday, hitting $74.13. The stock had a trading volume of 2,502,054 shares, compared to its average volume of 5,791,087. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company has a market capitalization of $131.75 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.15 and a beta of 0.99. The stock has a 50-day moving average of $74.36 and a 200 day moving average of $69.91. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69.

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

Charles Schwab Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 1.35%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SCHW. Citigroup upped their price objective on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research report on Tuesday, May 28th. Bank of America upped their price objective on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research report on Tuesday, April 16th. Piper Sandler upped their target price on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Finally, StockNews.com cut Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.