Barnes Dennig Private Wealth Management LLC Takes $3.66 Million Position in The Charles Schwab Corporation (NYSE:SCHW)

by · The Cerbat Gem

Barnes Dennig Private Wealth Management LLC purchased a new position in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 46,791 shares of the financial services provider’s stock, valued at approximately $3,663,000. Charles Schwab makes up approximately 5.5% of Barnes Dennig Private Wealth Management LLC’s holdings, making the stock its 4th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in SCHW. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab in the 1st quarter valued at $25,000. Westside Investment Management Inc. boosted its holdings in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 150 shares during the last quarter. WFA Asset Management Corp acquired a new stake in Charles Schwab in the first quarter worth about $33,000. Beacon Capital Management LLC raised its holdings in Charles Schwab by 53.1% during the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 169 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Charles Schwab during the 4th quarter valued at about $38,000. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the subject of several analyst reports. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. The Goldman Sachs Group raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Friday, April 25th. Piper Sandler increased their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Barclays reduced their price target on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Finally, Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and upped their price objective for the company from $65.00 to $82.00 in a report on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average price target of $89.40.

Check Out Our Latest Stock Report on SCHW

Charles Schwab Trading Up 1.4%

NYSE:SCHW opened at $91.26 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The business’s 50-day simple moving average is $86.42 and its 200-day simple moving average is $80.44. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $91.46. The stock has a market capitalization of $165.82 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94.

Charles Schwab (NYSE:SCHW – Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the company posted $0.74 EPS. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 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 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.18%. Charles Schwab’s payout ratio is 32.73%.

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 10,129 shares of the business’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $911,711.29. Following the sale, the insider directly owned 39,154 shares in the company, valued at $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. Insiders sold a total of 116,615 shares of company stock worth $10,231,607 in the last ninety days. 6.30% of the stock is owned by insiders.

Charles Schwab Profile

(Free Report)

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.

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