K.J. Harrison & Partners Inc Trims Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

by · The Cerbat Gem

K.J. Harrison & Partners Inc reduced its stake in The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,943 shares of the financial services provider’s stock after selling 4,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Charles Schwab were worth $4,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Personal CFO Solutions LLC grew its position in Charles Schwab by 1.2% in the 4th quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider’s stock valued at $832,000 after acquiring an additional 130 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in Charles Schwab by 2.1% in the 1st quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 132 shares in the last quarter. Premier Path Wealth Partners LLC grew its position in Charles Schwab by 1.8% in the 1st quarter. Premier Path Wealth Partners LLC now owns 7,817 shares of the financial services provider’s stock valued at $612,000 after acquiring an additional 140 shares in the last quarter. O ROURKE & COMPANY Inc grew its position in Charles Schwab by 1.1% in the 4th quarter. O ROURKE & COMPANY Inc now owns 12,958 shares of the financial services provider’s stock valued at $959,000 after acquiring an additional 142 shares in the last quarter. Finally, Lantern Wealth Advisors LLC grew its position in Charles Schwab by 0.3% in the 4th quarter. Lantern Wealth Advisors LLC now owns 46,540 shares of the financial services provider’s stock valued at $3,177,000 after acquiring an additional 144 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,850 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $87.57, for a total transaction of $249,574.50. Following the completion of the sale, the insider now owns 15,219 shares in the company, valued at $1,332,727.83. This represents a 15.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,380 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.43, for a total value of $261,713.40. Following the sale, the insider now owns 45,824 shares of the company’s stock, valued at $3,548,152.32. This trade represents a 6.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,995 shares of company stock worth $10,493,320. 6.30% of the stock is owned by insiders.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $90.02 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a twelve month low of $61.01 and a twelve month high of $90.86. The stock has a 50 day moving average of $86.10 and a two-hundred day moving average of $80.38. The stock has a market cap of $163.56 billion, a P/E ratio of 27.28, a P/E/G ratio of 0.96 and a beta of 0.94.

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

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Friday, May 9th. Charles Schwab’s dividend payout ratio is currently 32.73%.

Analyst Ratings Changes

SCHW has been the subject of a number of analyst reports. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Wells Fargo & Company lowered their price objective on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. TD Securities boosted their price objective on Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Morgan Stanley boosted their price objective on Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Finally, JMP Securities reissued a “market outperform” rating and set a $94.00 price objective on shares of Charles Schwab in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.40.

View Our Latest Report on Charles Schwab

Charles Schwab Company 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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