Tran Capital Management L.P. Buys 243,695 Shares of The Charles Schwab Co. (NYSE:SCHW)

Tran Capital Management L.P. boosted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 128.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 433,211 shares of the financial services provider’s stock after buying an additional 243,695 shares during the quarter. Charles Schwab makes up approximately 3.5% of Tran Capital Management L.P.’s portfolio, making the stock its 16th largest holding. Tran Capital Management L.P.’s holdings in Charles Schwab were worth $31,338,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SCHW. Investment Research & Advisory Group Inc. lifted its holdings in Charles Schwab by 1.0% during the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock valued at $4,058,000 after purchasing an additional 607 shares during the last quarter. Morningstar Investment Services LLC lifted its holdings in Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after purchasing an additional 2,322,156 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Charles Schwab by 24.3% during the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after purchasing an additional 857,734 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Charles Schwab by 22.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after purchasing an additional 160,719 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Charles Schwab by 13.0% during the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after purchasing an additional 152,967 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Down 0.0 %

Shares of Charles Schwab stock traded down $0.02 on Thursday, hitting $74.13. The stock had a trading volume of 2,502,054 shares, compared to its average volume of 5,791,087. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The stock has a market cap of $131.75 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.15 and a beta of 0.99. The stock’s 50-day simple moving average is $74.36 and its two-hundred day simple moving average is $69.91.

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

Charles Schwab Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on SCHW. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $76.00 price target on shares of Charles Schwab in a report on Monday, June 17th. Barclays increased 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Charles Schwab from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Bank of America raised their target price on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research note on Tuesday, April 16th. Finally, Piper Sandler raised their target price 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. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $75.56.

Insider Buying and Selling

In related news, insider Bernard J. Clark sold 77,431 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total value of $5,492,955.14. Following the completion of the sale, the insider now owns 121,666 shares of the company’s stock, valued at $8,630,986.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $78.41, for a total transaction of $705,690.00. Following the completion of the transaction, the director now owns 574,257 shares of the company’s stock, valued at $45,027,491.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard J. Clark sold 77,431 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total value of $5,492,955.14. Following the transaction, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The disclosure for this sale can be found here. Insiders sold 658,663 shares of company stock valued at $48,997,146 over the last quarter. 6.60% of the stock is owned by company insiders.

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.