Princeton Global Asset Management LLC Boosts Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Princeton Global Asset Management LLC increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 104.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 321 shares of the financial services provider’s stock after purchasing an additional 164 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Charles Schwab were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCHW. Industrial Alliance Investment Management Inc. purchased a new stake in Charles Schwab during the 4th quarter worth about $25,000. SBK Financial Inc. purchased a new stake in Charles Schwab in the 4th quarter valued at about $25,000. Horan Securities Inc. purchased a new stake in Charles Schwab in the 4th quarter valued at about $27,000. Sierra Capital LLC purchased a new stake in Charles Schwab in the 4th quarter valued at about $28,000. Finally, Roble Belko & Company Inc purchased a new stake in Charles Schwab in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 87.13% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, Chairman Charles R. Schwab sold 149,600 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $65.36, for a total value of $9,777,856.00. Following the transaction, the chairman now directly owns 69,749,230 shares of the company’s stock, valued at approximately $4,558,809,672.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 149,600 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $65.36, for a total value of $9,777,856.00. Following the transaction, the chairman now directly owns 69,749,230 shares of the company’s stock, valued at approximately $4,558,809,672.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $62.70, for a total value of $7,524,000.00. Following the completion of the transaction, the chairman now directly owns 71,083,305 shares in the company, valued at $4,456,923,223.50. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on SCHW shares. Piper Sandler lowered their price target on Charles Schwab from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, April 22nd. The Goldman Sachs Group started coverage on Charles Schwab in a report on Tuesday, April 26th. They issued a “neutral” rating and a $75.00 price target for the company. Morgan Stanley lowered their price target on Charles Schwab from $98.00 to $93.00 and set an “overweight” rating for the company in a report on Monday. Jefferies Financial Group lowered their price target on Charles Schwab to $95.00 in a report on Friday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $81.00 to $82.00 in a report on Tuesday, July 19th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.75.

Charles Schwab Stock Performance

Charles Schwab stock opened at $69.00 on Friday. The stock’s 50 day moving average price is $64.49 and its 200 day moving average price is $75.04. The firm has a market capitalization of $125.38 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 0.81 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.44 and a current ratio of 0.44. The Charles Schwab Co. has a one year low of $59.35 and a one year high of $96.24.

Charles Schwab (NYSE:SCHW – Get Rating) last released its quarterly earnings results on Monday, July 18th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.04 billion. Charles Schwab had a return on equity of 15.86% and a net margin of 33.09%. Charles Schwab’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. As a group, sell-side analysts expect that The Charles Schwab Co. will post 3.91 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 11th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.28%. Charles Schwab’s payout ratio is 26.32%.

Charles Schwab Profile

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The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.