AE Wealth Management LLC Buys 48,080 Shares of The Charles Schwab Co. (NYSE:SCHW)

Posted by Defense World Staff on Jun 29th, 2023

AE Wealth Management LLC increased its stake in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 46.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,792 shares of the financial services provider’s stock after acquiring an additional 48,080 shares during the period. AE Wealth Management LLC’s holdings in Charles Schwab were worth $7,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Phocas Financial Corp. purchased a new stake in shares of Charles Schwab in the 4th quarter worth approximately $25,000. Carolina Wealth Advisors LLC increased its stake in Charles Schwab by 54.8% in the 1st quarter. Carolina Wealth Advisors LLC now owns 565 shares of the financial services provider’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Charles Schwab during the first quarter valued at about $30,000. Worth Asset Management LLC purchased a new position in shares of Charles Schwab during the first quarter valued at about $32,000. Finally, Ruedi Wealth Management Inc. bought a new position in shares of Charles Schwab in the 4th quarter valued at about $33,000. Institutional investors own 82.77% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $55.78 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market capitalization of $98.68 billion, a P/E ratio of 15.24, a PEG ratio of 3.03 and a beta of 0.88. The company has a 50 day moving average price of $52.44 and a 200 day moving average price of $64.91. The Charles Schwab Co. has a fifty-two week low of $45.00 and a fifty-two week high of $86.63.

Charles Schwab (NYSE:SCHW – Free Report) last released its quarterly earnings data on Monday, April 17th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.03. Charles Schwab had a net margin of 34.82% and a return on equity of 27.83%. The business had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the previous year, the company earned $0.77 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Co. will post 3.29 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Friday, May 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Thursday, May 11th. Charles Schwab’s dividend payout ratio (DPR) is 27.32%.

Insider Activity

In other news, Chairman Charles R. Schwab sold 77,640 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $51.76, for a total transaction of $4,018,646.40. Following the transaction, the chairman now directly owns 59,771,278 shares of the company’s stock, valued at approximately $3,093,761,349.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SCHW shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Charles Schwab from $75.00 to $72.00 in a research note on Tuesday, April 18th. Credit Suisse Group raised shares of Charles Schwab from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $81.50 to $67.50 in a research note on Wednesday, March 15th. Raymond James raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a research note on Monday, May 15th. UBS Group cut their price objective on shares of Charles Schwab from $70.00 to $65.00 in a report on Tuesday, April 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Charles Schwab from $86.00 to $85.00 in a report on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.68.

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. The company operates in two segments, Investor Services and Advisor Services.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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