First Long Island Investors LLC Has $19.67 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

First Long Island Investors LLC trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 13.2% in the first quarter, Holdings Channel reports. The fund owned 271,904 shares of the financial services provider’s stock after selling 41,491 shares during the period. Charles Schwab accounts for about 1.6% of First Long Island Investors LLC’s portfolio, making the stock its 26th biggest position. First Long Island Investors LLC’s holdings in Charles Schwab were worth $19,670,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp lifted its holdings in shares of Charles Schwab by 0.3% in the first quarter. Texas Permanent School Fund Corp now owns 343,437 shares of the financial services provider’s stock valued at $24,844,000 after purchasing an additional 1,178 shares in the last quarter. Biechele Royce Advisors lifted its holdings in shares of Charles Schwab by 4.3% in the first quarter. Biechele Royce Advisors now owns 173,003 shares of the financial services provider’s stock valued at $12,516,000 after purchasing an additional 7,085 shares in the last quarter. Coulter & Justus Financial Services LLC bought a new stake in shares of Charles Schwab in the first quarter valued at about $344,000. Geneos Wealth Management Inc. lifted its holdings in shares of Charles Schwab by 6.8% in the first quarter. Geneos Wealth Management Inc. now owns 100,394 shares of the financial services provider’s stock valued at $7,263,000 after purchasing an additional 6,364 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Charles Schwab by 1.2% in the first quarter. DAVENPORT & Co LLC now owns 255,625 shares of the financial services provider’s stock valued at $18,493,000 after purchasing an additional 2,950 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of research reports. Citigroup boosted their price target on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. TD Cowen dropped their target price on Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. UBS Group dropped their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com lowered Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, Piper Sandler upped their target price on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $77.75.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $78.41, for a total value of $705,690.00. Following the transaction, the director now owns 574,257 shares of the company’s stock, valued at $45,027,491.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 574,257 shares of the company’s stock, valued at $45,027,491.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Goldfarb sold 7,100 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $70.86, for a total value of $503,106.00. Following the sale, the director now directly owns 19,917 shares in the company, valued at approximately $1,411,318.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 658,663 shares of company stock valued at $48,997,146. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Performance

NYSE SCHW traded up $1.44 during trading on Thursday, reaching $76.07. 5,796,036 shares of the company’s stock were exchanged, compared to its average volume of 7,181,804. The business has a 50 day moving average price of $74.31 and a 200-day moving average price of $70.14. The stock has a market capitalization of $135.20 billion, a P/E ratio of 31.83, a PEG ratio of 1.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its 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. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.71 billion. Sell-side analysts forecast that The Charles Schwab Co. will post 3.25 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, May 9th. Charles Schwab’s payout ratio is 41.84%.

Charles Schwab 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.