Cibc World Markets Corp Sells 49,703 Shares of The Charles Schwab Co. (NYSE:SCHW)

Cibc World Markets Corp decreased its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 17.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,659 shares of the financial services provider's stock after selling 49,703 shares during the quarter. Cibc World Markets Corp's holdings in Charles Schwab were worth $17,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in SCHW. Principal Financial Group Inc. boosted its position in shares of Charles Schwab by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider's stock worth $432,536,000 after purchasing an additional 38,201 shares in the last quarter. United Bank grew its stake in shares of Charles Schwab by 13.0% in the third quarter. United Bank now owns 11,352 shares of the financial services provider's stock worth $736,000 after acquiring an additional 1,309 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Charles Schwab by 6.2% during the third quarter. Empowered Funds LLC now owns 22,842 shares of the financial services provider's stock valued at $1,480,000 after acquiring an additional 1,343 shares in the last quarter. Aljian Capital Management LLC bought a new position in Charles Schwab in the 3rd quarter worth about $315,000. Finally, Equity Investment Corp grew its position in Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider's stock valued at $106,299,000 after purchasing an additional 140,643 shares during the last quarter. Institutional investors own 84.38% of the company's stock.

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Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 9,887 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares of the company's stock, valued at approximately $3,613,038.78. The trade was a 17.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 501,087 shares of company stock worth $40,952,233. Insiders own 6.60% of the company's stock.

Charles Schwab Price Performance

Shares of SCHW traded down $0.11 during mid-day trading on Friday, hitting $78.47. 11,842,111 shares of the stock were exchanged, compared to its average volume of 11,847,410. The firm has a 50-day moving average of $78.88 and a two-hundred day moving average of $74.63. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $142.30 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for 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 firm's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, equities analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.38%. The ex-dividend date 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%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Truist Financial increased their target price on Charles Schwab from $90.00 to $91.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Jefferies Financial Group boosted their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Wells Fargo & Company upgraded Charles Schwab from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Finally, TD Cowen raised shares of Charles Schwab from a "hold" rating to a "buy" rating and raised their price target for the company from $88.00 to $103.00 in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $86.33.

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.