The Charles Schwab Co. (NYSE:SCHW) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co cut its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,152,760 shares of the financial services provider's stock after selling 15,016 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.06% of Charles Schwab worth $85,260,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp bought a new position in Charles Schwab during the 4th quarter worth about $38,000. Atala Financial Inc bought a new position in shares of Charles Schwab during the fourth quarter valued at approximately $41,000. Knuff & Co LLC increased its holdings in Charles Schwab by 1,309.3% during the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock valued at $45,000 after buying an additional 563 shares during the period. Financial Life Planners purchased a new stake in Charles Schwab during the fourth quarter worth $46,000. Finally, Whipplewood Advisors LLC bought a new stake in Charles Schwab during the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Price Performance

NYSE SCHW traded up $1.47 during trading hours on Wednesday, hitting $78.05. 4,097,405 shares of the company's stock traded hands, compared to its average volume of 9,297,748. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The firm's 50-day moving average is $76.91 and its 200-day moving average is $76.74. The company has a market capitalization of $141.55 billion, a PE ratio of 26.10, a PEG ratio of 0.99 and a beta of 0.91. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the business posted $0.74 earnings per share. Equities analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.38%. Charles Schwab's payout ratio is presently 36.12%.

Analysts Set New Price Targets

Several analysts have commented on SCHW shares. JMP Securities reissued a "market outperform" rating and set a $94.00 price target on shares of Charles Schwab in a research report on Monday. Redburn Partners reduced their price target on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research report on Friday, January 17th. Truist Financial lowered their price objective on Charles Schwab from $85.00 to $84.00 and set a "buy" rating for the company in a research report on Monday. JPMorgan Chase & Co. increased their price target on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Charles Schwab currently has an average rating of "Moderate Buy" and an average target price of $85.78.

Insider Transactions at Charles Schwab

In other news, Director Frank C. Herringer sold 3,592 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the sale, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 502,030 shares of company stock valued at $40,988,118. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Company 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.