Cornerstone Capital Inc. Has $14.81 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Cornerstone Capital Inc. decreased its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 200,141 shares of the financial services provider's stock after selling 31,965 shares during the quarter. Cornerstone Capital Inc.'s holdings in Charles Schwab were worth $14,812,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after purchasing an additional 1,187,384 shares during the period. Geode Capital Management LLC increased its stake in Charles Schwab by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock valued at $2,279,742,000 after buying an additional 760,043 shares during the period. Franklin Resources Inc. lifted its stake in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock worth $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Fisher Asset Management LLC lifted its position in Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after purchasing an additional 265,708 shares during the period. Finally, Norges Bank bought a new position in Charles Schwab during the 4th quarter valued at $1,289,544,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the sale, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 502,030 shares of company stock valued at $40,988,118 over the last quarter. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research reports. Truist Financial decreased their target price on Charles Schwab from $85.00 to $84.00 and set a "buy" rating for the company in a research note on Monday. Wells Fargo & Company cut their target price on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. TD Cowen raised Charles Schwab from a "hold" rating to a "buy" rating and raised their price objective for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Barclays reduced their target price on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Finally, Morgan Stanley raised Charles Schwab from an "equal weight" rating to an "overweight" rating and set a $76.00 price target on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Charles Schwab presently has an average rating of "Moderate Buy" and an average target price of $85.78.

Charles Schwab Stock Up 1.7 %

Shares of Charles Schwab stock traded up $1.29 during trading on Wednesday, hitting $77.87. 9,825,983 shares of the stock traded hands, compared to its average volume of 9,319,699. The stock has a market cap of $141.22 billion, a P/E ratio of 26.04, a PEG ratio of 0.99 and a beta of 0.91. The company has a fifty day moving average price of $76.91 and a two-hundred day moving average price of $76.74. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month 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.

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

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.27 per share. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, February 14th. Charles Schwab's dividend payout ratio (DPR) is 36.12%.

About Charles Schwab

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.