Red Door Wealth Management LLC Sells 676 Shares of The Charles Schwab Co. (NYSE:SCHW)

Red Door Wealth Management LLC lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 18.0% in the first quarter, Holdings Channel reports. The institutional investor owned 3,074 shares of the financial services provider’s stock after selling 676 shares during the period. Red Door Wealth Management LLC’s holdings in Charles Schwab were worth $222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. New Mexico Educational Retirement Board lifted its stake in shares of Charles Schwab by 13.1% during the 1st quarter. New Mexico Educational Retirement Board now owns 87,387 shares of the financial services provider’s stock worth $6,322,000 after purchasing an additional 10,100 shares during the last quarter. Guidance Capital Inc. bought a new stake in shares of Charles Schwab in the 1st quarter valued at about $928,000. Investment Research & Advisory Group Inc. grew its position in shares of Charles Schwab by 5.5% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 62,250 shares of the financial services provider’s stock worth $4,503,000 after buying an additional 3,271 shares during the last quarter. Grimes & Company Inc. raised its stake in shares of Charles Schwab by 2.1% during the 1st quarter. Grimes & Company Inc. now owns 354,819 shares of the financial services provider’s stock worth $25,668,000 after acquiring an additional 7,197 shares in the last quarter. Finally, WoodTrust Financial Corp lifted its position in Charles Schwab by 3.3% during the first quarter. WoodTrust Financial Corp now owns 31,817 shares of the financial services provider’s stock valued at $2,301,000 after acquiring an additional 1,017 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $72.40, for a total value of $724,000.00. Following the sale, the insider now owns 71,446 shares in the company, valued at approximately $5,172,690.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Peter B. Crawford sold 5,482 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $73.46, for a total value of $402,707.72. Following the completion of the transaction, the chief financial officer now owns 60,567 shares of the company’s stock, valued at approximately $4,449,251.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nigel J. Murtagh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.40, for a total value of $724,000.00. Following the completion of the sale, the insider now directly owns 71,446 shares in the company, valued at $5,172,690.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 658,663 shares of company stock worth $48,997,146. 6.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on SCHW shares. Barclays lifted their price target on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Piper Sandler upped their target price on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. UBS Group raised their price target on Charles Schwab from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Bank of America upped their price objective on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Charles Schwab from $89.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.56.

Charles Schwab Stock Up 0.2 %

SCHW stock opened at $73.69 on Monday. The company has a market capitalization of $130.97 billion, a P/E ratio of 30.83, a price-to-earnings-growth ratio of 1.14 and a beta of 0.99. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The firm’s fifty day simple moving average is $74.42 and its 200-day simple moving average is $69.84. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.25 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Charles Schwab Company Profile

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.