Dai ichi Life Insurance Company Ltd Sells 29,024 Shares of The Charles Schwab Co. (NYSE:SCHW)

Dai ichi Life Insurance Company Ltd cut its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 21.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,401 shares of the financial services provider's stock after selling 29,024 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Charles Schwab were worth $7,090,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its position in shares of Charles Schwab by 4.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 39,956 shares of the financial services provider's stock valued at $2,890,000 after purchasing an additional 1,850 shares during the period. Comerica Bank raised its holdings in shares of Charles Schwab by 0.7% during the first quarter. Comerica Bank now owns 366,519 shares of the financial services provider's stock valued at $26,514,000 after acquiring an additional 2,491 shares during the period. Plato Investment Management Ltd lifted its position in shares of Charles Schwab by 806.6% in the 1st quarter. Plato Investment Management Ltd now owns 23,898 shares of the financial services provider's stock valued at $1,729,000 after acquiring an additional 21,262 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in Charles Schwab in the 1st quarter worth approximately $78,000. Finally, Kozak & Associates Inc. grew its position in Charles Schwab by 5.9% during the 1st quarter. Kozak & Associates Inc. now owns 131,482 shares of the financial services provider's stock worth $10,261,000 after purchasing an additional 7,296 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

SCHW traded up $0.35 during midday trading on Wednesday, reaching $82.60. The company's stock had a trading volume of 3,968,735 shares, compared to its average volume of 8,075,505. The Charles Schwab Co. has a twelve month low of $55.59 and a twelve month high of $82.65. The stock has a market cap of $147.00 billion, a P/E ratio of 32.27, a PEG ratio of 1.77 and a beta of 0.96. The company has a fifty day simple moving average of $71.66 and a 200 day simple moving average of $69.94. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.77 EPS. Research analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, November 8th. Charles Schwab's payout ratio is 39.06%.

Analysts Set New Price Targets

Several brokerages have recently commented on SCHW. JPMorgan Chase & Co. raised their target price on Charles Schwab from $86.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. StockNews.com upgraded Charles Schwab from a "sell" rating to a "hold" rating in a report on Wednesday, October 16th. Raymond James decreased their price target on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. The Goldman Sachs Group upped their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Charles Schwab has an average rating of "Hold" and a consensus price target of $74.18.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,300 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now directly owns 554,929 shares of the company's stock, valued at $35,543,202.45. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,968 shares of company stock worth $9,419,271. Corporate insiders own 6.60% of the company's stock.

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.