RiverPark Advisors LLC Decreases Stake in The Charles Schwab Co. (NYSE:SCHW)

RiverPark Advisors LLC lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 11.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 16,541 shares of the financial services provider’s stock after selling 2,089 shares during the period. RiverPark Advisors LLC’s holdings in Charles Schwab were worth $1,197,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. Sugarloaf Wealth Management LLC raised its holdings in shares of Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 165 shares during the period. Frazier Financial Advisors LLC purchased a new position in shares of Charles Schwab during the 4th quarter worth $30,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Charles Schwab during the 4th quarter worth $31,000. Tributary Capital Management LLC purchased a new position in shares of Charles Schwab during the 1st quarter worth $31,000. Finally, Hall Laurie J Trustee purchased a new position in shares of Charles Schwab during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.7 %

Shares of Charles Schwab stock traded up $1.27 on Tuesday, reaching $74.51. 4,971,834 shares of the company were exchanged, compared to its average volume of 7,212,870. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a market cap of $132.43 billion, a P/E ratio of 31.18, a price-to-earnings-growth ratio of 1.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s 50 day moving average price is $74.29 and its 200-day moving average price is $70.06.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. As a group, equities analysts forecast that The Charles Schwab Co. will post 3.25 EPS for the current year.

Charles Schwab Dividend Announcement

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

Insider Transactions at Charles Schwab

In related news, CFO Peter B. Crawford sold 5,482 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $73.46, for a total transaction of $402,707.72. Following the completion of the sale, the chief financial officer now owns 60,567 shares in the company, valued at $4,449,251.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Peter B. Crawford sold 5,482 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $73.46, for a total transaction of $402,707.72. Following the completion of the sale, the chief financial officer now owns 60,567 shares in the company, valued at $4,449,251.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the sale, the director now owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 658,663 shares of company stock valued at $48,997,146. 6.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $80.00 price target on shares of Charles Schwab in a report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Charles Schwab from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Bank of America boosted their price objective 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. Jefferies Financial Group boosted their price objective on shares of Charles Schwab from $85.00 to $88.00 and gave the company a “buy” rating in a report on Monday. Finally, Piper Sandler boosted their price objective 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. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $77.63.

Charles Schwab 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.