Truist Financial Corp Increases Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Truist Financial Corp increased its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,901,708 shares of the financial services provider's stock after purchasing an additional 59,361 shares during the period. Truist Financial Corp owned 0.11% of Charles Schwab worth $140,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in shares of Charles Schwab by 15.0% during 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 purchasing an additional 3,157,923 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider's stock valued at $1,858,706,000 after acquiring an additional 1,711,312 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in shares of Charles Schwab by 2,617.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider's stock valued at $110,681,000 after acquiring an additional 1,644,931 shares during the period. KBC Group NV lifted its holdings in shares of Charles Schwab by 186.7% in the 4th quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider's stock worth $158,236,000 after acquiring an additional 1,392,255 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in Charles Schwab in the 3rd quarter valued at approximately $86,845,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction dated 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 directly owns 59,092 shares of the company's stock, 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. Insiders sold 502,859 shares of company stock valued at $41,161,496 in the last three months. 6.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SCHW shares. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research report on Friday, December 20th. Wells Fargo & Company raised Charles Schwab from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. TD Cowen raised shares of Charles Schwab from a "hold" rating to a "buy" rating and raised their price objective for the company from $88.00 to $103.00 in a research note on Tuesday. Truist Financial upped their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Finally, Citigroup raised their price target on shares of Charles Schwab from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $86.33.

Charles Schwab Stock Performance

SCHW traded up $0.49 on Wednesday, hitting $81.97. 4,735,870 shares of the company traded hands, compared to its average volume of 12,436,361. 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 company has a 50 day moving average of $77.99 and a 200-day moving average of $72.70. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The stock has a market capitalization of $146.01 billion, a PE ratio of 27.41, a PEG ratio of 0.97 and a beta of 0.99.

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, topping 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 net margin of 30.31% and a return on equity of 18.20%. The business's revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. Sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. Charles Schwab's dividend payout ratio is 36.12%.

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.