The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 12.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,794 shares of the financial services provider’s stock after acquiring an additional 3,614 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Charles Schwab were worth $2,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCHW. Sugarloaf Wealth Management LLC increased its stake in shares of Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 165 shares during the period. Frazier Financial Advisors LLC acquired a new stake in Charles Schwab during the fourth quarter valued at $30,000. Wetzel Investment Advisors Inc. acquired a new stake in Charles Schwab during the fourth quarter valued at $31,000. Tributary Capital Management LLC acquired a new stake in Charles Schwab during the first quarter valued at $31,000. Finally, Hall Laurie J Trustee acquired a new stake in Charles Schwab during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, COO Joseph R. Martinetto sold 43,000 shares of Charles Schwab stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $70.83, for a total transaction of $3,045,690.00. Following the transaction, the chief operating officer now directly owns 41,414 shares of the company’s stock, valued at $2,933,353.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $78.41, for a total transaction of $705,690.00. Following the completion of the sale, the director now directly owns 574,257 shares in the company, valued at $45,027,491.37. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Joseph R. Martinetto sold 43,000 shares of Charles Schwab stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $70.83, for a total transaction of $3,045,690.00. Following the sale, the chief operating officer now owns 41,414 shares of the company’s stock, valued at $2,933,353.62. The disclosure for this sale can be found here. Insiders have sold 658,663 shares of company stock valued at $48,997,146 over the last ninety days. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SCHW. Morgan Stanley raised their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. TD Cowen dropped their price target on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Citigroup raised their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Bank of America increased 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, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $76.00 price objective on shares of Charles Schwab in a report on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $75.56.

Charles Schwab Stock Performance

NYSE:SCHW opened at $74.13 on Friday. The company’s 50-day moving average price is $74.34 and its 200-day moving average price is $69.94. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. The company has a market cap of $131.75 billion, a P/E ratio of 31.02, a P/E/G ratio of 1.15 and a beta of 0.99. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.71 billion. On average, sell-side analysts forecast that The Charles Schwab Co. will post 3.25 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

About Charles Schwab

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.