The Charles Schwab Co. (NYSE:SCHW) Position Raised by Simplicity Solutions LLC

Posted by Defense World Staff on Jul 18th, 2023

Simplicity Solutions LLC lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 77.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,105 shares of the financial services provider’s stock after purchasing an additional 10,501 shares during the quarter. Simplicity Solutions LLC’s holdings in Charles Schwab were worth $1,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Phocas Financial Corp. bought a new stake in shares of Charles Schwab during the fourth quarter valued at about $25,000. Ruedi Wealth Management Inc. bought a new stake in Charles Schwab in the fourth quarter worth about $33,000. WFA of San Diego LLC bought a new stake in Charles Schwab in the fourth quarter worth about $34,000. Sittner & Nelson LLC bought a new stake in Charles Schwab in the fourth quarter worth about $37,000. Finally, Heritage Wealth Management LLC raised its position in Charles Schwab by 153.0% in the fourth quarter. Heritage Wealth Management LLC now owns 468 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 283 shares in the last quarter. 82.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Charles R. Schwab sold 77,640 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $51.76, for a total value of $4,018,646.40. Following the completion of the sale, the chairman now directly owns 59,771,278 shares in the company, valued at approximately $3,093,761,349.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.2 %

Shares of Charles Schwab stock opened at $58.66 on Tuesday. The firm has a market cap of $103.78 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 5.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.39 and a quick ratio of 0.39. The Charles Schwab Co. has a 52-week low of $45.00 and a 52-week high of $86.63. The stock has a 50-day simple moving average of $54.22 and a 200-day simple moving average of $62.75.

Charles Schwab (NYSE:SCHW – Get Free Report) last announced its quarterly earnings results on Monday, April 17th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.03. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.13 billion. Charles Schwab had a return on equity of 27.83% and a net margin of 34.82%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. On average, equities research analysts expect that The Charles Schwab Co. will post 3.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Friday, May 12th were issued a $0.25 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.00 annualized dividend and a yield of 1.70%. Charles Schwab’s dividend payout ratio (DPR) is currently 27.32%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Citigroup dropped their price target on Charles Schwab from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 29th. Morgan Stanley cut Charles Schwab from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $99.00 to $68.00 in a research note on Thursday, March 30th. Bank of America lifted their price target on Charles Schwab from $46.00 to $53.00 in a research note on Thursday, June 15th. Finally, Keefe, Bruyette & Woods dropped their price target on Charles Schwab from $89.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $67.23.

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.