Cerity Partners LLC decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,080,580 shares of the financial services provider's stock after selling 6,036 shares during the period. Cerity Partners LLC owned 0.06% of Charles Schwab worth $78,134,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in Charles Schwab by 69.4% during the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after acquiring an additional 3,974,940 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in Charles Schwab by 213.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,606 shares of the financial services provider's stock valued at $119,000 after purchasing an additional 1,094 shares during the period. Titleist Asset Management LLC grew its holdings in Charles Schwab by 13.7% in the 4th quarter. Titleist Asset Management LLC now owns 9,885 shares of the financial services provider's stock valued at $732,000 after buying an additional 1,191 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co increased its position in Charles Schwab by 76.4% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 186,971 shares of the financial services provider's stock worth $13,838,000 after buying an additional 81,000 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Charles Schwab by 24.9% in the fourth quarter. Russell Investments Group Ltd. now owns 938,835 shares of the financial services provider's stock valued at $69,472,000 after acquiring an additional 187,260 shares during the period. 84.38% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold a total of 513,081 shares of company stock valued at $41,903,066 over the last ninety days. Insiders own 6.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Truist Financial dropped their price objective on shares of Charles Schwab from $91.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Redburn Partners lowered their price target on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research note on Friday, January 17th. Finally, Wells Fargo & Company reduced their price objective on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $85.33.
View Our Latest Stock Analysis on Charles Schwab
Charles Schwab Price Performance
NYSE:SCHW traded up $3.12 during mid-day trading on Friday, reaching $76.97. 14,847,290 shares of the company were exchanged, compared to its average volume of 9,287,524. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market cap of $139.59 billion, a PE ratio of 25.74, a PEG ratio of 0.99 and a beta of 0.91. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a fifty day moving average of $77.77 and a 200 day moving average of $76.23.
Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analysts' expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. On average, research analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.
Charles Schwab Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's dividend payout ratio (DPR) is 36.12%.
About Charles Schwab
(
Free Report)
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.
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