Calamos Advisors LLC Buys 3,873 Shares of The Charles Schwab Corporation (NYSE:SCHW)

by · The Cerbat Gem

Calamos Advisors LLC increased its stake in The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 1.1% in the first quarter, Holdings Channel reports. The institutional investor owned 347,744 shares of the financial services provider’s stock after acquiring an additional 3,873 shares during the period. Calamos Advisors LLC’s holdings in Charles Schwab were worth $27,221,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SCHW. Atwood & Palmer Inc. purchased a new position in shares of Charles Schwab during the first quarter valued at approximately $25,000. Westside Investment Management Inc. lifted its stake in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 150 shares during the last quarter. WFA Asset Management Corp purchased a new position in Charles Schwab during the 1st quarter valued at $33,000. Murphy & Mullick Capital Management Corp bought a new position in Charles Schwab in the 4th quarter valued at $38,000. Finally, Beacon Capital Management LLC increased its stake in Charles Schwab by 53.1% in the first 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 period. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SCHW. UBS Group boosted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Piper Sandler boosted their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Morgan Stanley raised their target price on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. TD Securities boosted their price target on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Finally, Truist Financial increased their price objective on Charles Schwab from $97.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.40.

Read Our Latest Stock Analysis on SCHW

Charles Schwab Stock Performance

SCHW stock opened at $91.20 on Friday. The Charles Schwab Corporation has a one year low of $61.01 and a one year high of $92.15. The firm has a market cap of $165.71 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 0.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a 50-day simple moving average of $87.22 and a two-hundred day simple moving average of $80.68.

Charles Schwab (NYSE:SCHW – Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same quarter in the prior year, the company posted $0.74 earnings per share. On average, equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a $0.27 dividend. The ex-dividend date of this dividend 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%.

Insider Transactions at Charles Schwab

In related news, insider Nigel J. Murtagh sold 20,872 shares of the company’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at $5,310,499.99. This represents a 26.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total value of $299,225.50. Following the completion of the sale, the insider owned 35,864 shares of the company’s stock, valued at approximately $3,261,830.80. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,905 shares of company stock worth $10,530,833. 6.30% of the stock is currently owned by corporate 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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