The Charles Schwab Co. (NYSE:SCHW) Position Raised by Thrive Wealth Management LLC

Thrive Wealth Management LLC raised its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,621 shares of the financial services provider’s stock after purchasing an additional 317 shares during the quarter. Thrive Wealth Management LLC’s holdings in Charles Schwab were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Charles Schwab by 33.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after acquiring an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Charles Schwab by 4.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock worth $2,132,454,000 after buying an additional 1,219,015 shares during the period. Fisher Asset Management LLC lifted its stake in Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after buying an additional 296,317 shares in the last quarter. Norges Bank acquired a new position in shares of Charles Schwab in the fourth quarter worth about $950,192,000. Finally, Putnam Investments LLC boosted its holdings in shares of Charles Schwab by 4.8% in the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after buying an additional 560,110 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.4 %

NYSE SCHW traded up $0.30 on Thursday, reaching $73.56. The company had a trading volume of 5,561,854 shares, compared to its average volume of 7,347,989. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The company’s fifty day moving average is $74.40 and its 200-day moving average is $69.68. The firm has a market capitalization of $130.74 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 1.14 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $4.71 billion. On average, research analysts forecast that The Charles Schwab Co. will post 3.25 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given 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 1.36%. Charles Schwab’s payout ratio is presently 41.84%.

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the transaction, the director now directly owns 570,657 shares of the company’s stock, valued at $41,366,925.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark A. Goldfarb sold 7,100 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $70.86, for a total transaction of $503,106.00. Following the sale, the director now owns 19,917 shares in the company, valued at approximately $1,411,318.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the transaction, the director now directly owns 570,657 shares in the company, valued at $41,366,925.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 658,663 shares of company stock worth $48,997,146. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SCHW. Morgan Stanley upped their price target on Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. decreased their price target on shares of Charles Schwab from $89.00 to $81.00 and set an “overweight” rating for the company in a report on Friday, May 31st. Piper Sandler upped their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. StockNews.com lowered shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Finally, TD Cowen dropped their price target on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $75.56.

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.