Element Pointe Advisors LLC Invests $946,000 in The Charles Schwab Corporation $SCHW

Element Pointe Advisors LLC acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,066 shares of the financial services provider’s stock, valued at approximately $946,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 19,195 shares during the period. Sivia Capital Partners LLC raised its stake in Charles Schwab by 21.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider’s stock valued at $415,000 after buying an additional 809 shares during the last quarter. United Bank lifted its holdings in shares of Charles Schwab by 7.1% during the 2nd quarter. United Bank now owns 16,053 shares of the financial services provider’s stock valued at $1,465,000 after buying an additional 1,070 shares during the period. Nebula Research & Development LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at $552,000. Finally, Main Street Financial Solutions LLC boosted its stake in shares of Charles Schwab by 4.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider’s stock worth $623,000 after buying an additional 305 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 1.3%

Shares of Charles Schwab stock opened at $102.92 on Tuesday. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $107.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $178.99 billion, a P/E ratio of 20.42, a P/E/G ratio of 0.85 and a beta of 0.77. The company has a fifty day moving average of $93.07 and a 200 day moving average of $95.34.

Charles Schwab Dividend Announcement

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

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the transaction, the insider directly owned 13,738 shares of the company’s stock, valued at approximately $1,373,937.38. The trade was a 12.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank C. Herringer sold 2,520 shares of the company’s 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 completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,520 shares of company stock valued at $622,392 in the last quarter. 6.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research analyst reports. Zacks Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Morgan Stanley increased their target price on Charles Schwab from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 10th. JPMorgan Chase & Co. raised their target price on Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Piper Sandler boosted their price target on Charles Schwab from $105.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Truist Financial reduced 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock 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.