Birch Capital Management LLC Increases Position in The Charles Schwab Co. (NYSE:SCHW)

Birch Capital Management LLC increased its stake in The Charles Schwab Co. (NYSE:SCHWFree Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,564 shares of the financial services provider’s stock after acquiring an additional 3,278 shares during the period. Charles Schwab comprises approximately 2.8% of Birch Capital Management LLC’s portfolio, making the stock its 11th largest position. Birch Capital Management LLC’s holdings in Charles Schwab were worth $5,394,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Providence Capital Advisors LLC bought a new stake in Charles Schwab in the third quarter worth $28,000. Sugarloaf Wealth Management LLC lifted its stake in 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 purchasing an additional 165 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in Charles Schwab in the fourth quarter worth $30,000. Wetzel Investment Advisors Inc. bought a new stake in Charles Schwab in the fourth quarter worth $31,000. Finally, Hall Laurie J Trustee bought a new stake in Charles Schwab in the fourth quarter worth $34,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 0.9 %

SCHW traded up $0.64 during midday trading on Friday, reaching $73.34. The company’s stock had a trading volume of 12,242,913 shares, compared to its average volume of 5,273,844. The firm has a market capitalization of $130.35 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.12 and a beta of 0.96. 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 Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The stock’s 50-day moving average is $74.30 and its 200-day moving average is $69.51.

Charles Schwab (NYSE:SCHWGet Free Report) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share 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 business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.71 billion. As a group, research analysts expect that The Charles Schwab Co. will post 3.25 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, May 9th. Charles Schwab’s payout ratio is 41.84%.

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Bernard J. Clark sold 8,164 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the sale, the insider now owns 121,666 shares in the company, valued at $9,124,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total transaction of $1,771,079.60. The disclosure for this sale can be found here. Insiders have sold a total of 649,663 shares of company stock worth $48,344,736 over the last 90 days. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

SCHW has been the subject of several recent analyst reports. Barclays upped their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Morgan Stanley upped their price objective on shares of Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Piper Sandler upped their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Charles Schwab from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $76.00 price objective on shares of Charles Schwab in a research note on Monday, June 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.65.

View Our Latest Research 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.

See Also

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Co. (NYSE:SCHWFree Report).

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

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