City Holding Co. Cuts Position in The Charles Schwab Co. (NYSE:SCHW)

City Holding Co. cut its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 20.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,470 shares of the financial services provider's stock after selling 5,069 shares during the quarter. City Holding Co.'s holdings in Charles Schwab were worth $1,441,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SCHW. Benjamin Edwards Inc. raised its stake in Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider's stock worth $398,000 after purchasing an additional 5,937 shares during the period. Merit Financial Group LLC increased its holdings in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider's stock worth $2,483,000 after buying an additional 23,383 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider's stock worth $4,400,000 after purchasing an additional 21,377 shares during the period. Patten & Patten Inc. TN increased its position in shares of Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider's stock worth $6,751,000 after purchasing an additional 63,463 shares during the last quarter. Finally, Equity Investment Corp raised its holdings in Charles Schwab by 9.4% in 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 buying an additional 140,643 shares during the period. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company's stock, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of Charles Schwab stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the transaction, the insider now owns 59,092 shares in the company, valued at approximately $4,796,497.64. This trade represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,823 shares of company stock valued at $2,171,194. Insiders own 6.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on SCHW shares. The Goldman Sachs Group boosted their target price on Charles Schwab from $67.00 to $74.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Barclays raised shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $74.00 to $95.00 in a research note on Monday, December 9th. Jefferies Financial Group lifted their target price on Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a report on Monday, December 9th. Truist Financial raised Charles Schwab to a "strong-buy" rating in a research report on Monday, January 6th. Finally, Piper Sandler lifted their price target 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of "Hold" and a consensus price target of $81.41.

Charles Schwab Stock Performance

SCHW traded up $1.02 during trading on Monday, hitting $76.53. 12,277,167 shares of the stock were exchanged, compared to its average volume of 6,817,749. The firm has a market capitalization of $136.20 billion, a P/E ratio of 29.90, a PEG ratio of 1.19 and a beta of 0.99. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.35. The stock has a fifty day moving average price of $77.68 and a two-hundred day moving average price of $70.61. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab's payout ratio is currently 39.06%.

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.