Convergence Investment Partners LLC Purchases 9,937 Shares of The Charles Schwab Corporation $SCHW

Convergence Investment Partners LLC boosted its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 39.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 35,293 shares of the financial services provider’s stock after purchasing an additional 9,937 shares during the quarter. Convergence Investment Partners LLC’s holdings in Charles Schwab were worth $3,317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Brookwood Investment Group LLC grew its position in shares of Charles Schwab by 192.6% during the 4th quarter. Brookwood Investment Group LLC now owns 12,236 shares of the financial services provider’s stock valued at $1,222,000 after acquiring an additional 8,054 shares during the period. Juno Financial Group LLC bought a new position in shares of Charles Schwab in the fourth quarter worth about $2,591,000. Swiss Life Asset Management Ltd lifted its position in shares of Charles Schwab by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 407,179 shares of the financial services provider’s stock valued at $40,681,000 after buying an additional 16,482 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Charles Schwab by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after buying an additional 98,242 shares in the last quarter. Finally, Busey Bank grew its stake in shares of Charles Schwab by 15.5% during the 4th quarter. Busey Bank now owns 258,962 shares of the financial services provider’s stock valued at $25,873,000 after acquiring an additional 34,745 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Frank C. Herringer sold 2,520 shares of Charles Schwab stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total value of $228,312.00. Following the sale, the director owned 177,508 shares of the company’s stock, valued at $16,082,224.80. The trade was a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 2,000 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $100.01, for a total transaction of $200,020.00. Following the completion of the transaction, the insider directly owned 13,738 shares of the company’s stock, valued at approximately $1,373,937.38. This trade represents a 12.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,520 shares of company stock worth $622,392. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Trading Up 1.3%

Shares of SCHW opened at $102.92 on Tuesday. The firm has a market cap of $178.99 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 0.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $107.50. The company has a 50 day simple moving average of $93.07 and a two-hundred day simple moving average of $95.34.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a $0.32 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.28 annualized dividend and a yield of 1.2%. Charles Schwab’s payout ratio is presently 25.40%.

Analysts Set New Price Targets

Several research firms recently issued reports on SCHW. UBS Group increased their target price on shares of Charles Schwab from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. Truist Financial dropped their price target on shares of Charles Schwab from $122.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Morgan Stanley increased their price objective on shares of Charles Schwab from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Finally, Raymond James Financial raised their price objective on shares of Charles Schwab from $126.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $117.65.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.