Corebridge Financial Inc. Sells 16,216 Shares of The Charles Schwab Co. (NYSE:SCHW)

Corebridge Financial Inc. trimmed its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 384,431 shares of the financial services provider's stock after selling 16,216 shares during the quarter. Corebridge Financial Inc.'s holdings in Charles Schwab were worth $28,452,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SCHW. Principal Financial Group Inc. lifted its holdings in shares of Charles Schwab by 0.6% in the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider's stock valued at $432,536,000 after purchasing an additional 38,201 shares in the last quarter. United Bank raised its holdings in shares of Charles Schwab by 13.0% during 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 in the last quarter. Quest Partners LLC acquired a new stake in Charles Schwab during the third quarter valued at $270,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Charles Schwab by 6.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 193,881 shares of the financial services provider's stock valued at $12,565,000 after purchasing an additional 11,777 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Charles Schwab by 44.0% during the 3rd quarter. Intech Investment Management LLC now owns 36,281 shares of the financial services provider's stock valued at $2,351,000 after buying an additional 11,087 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

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Charles Schwab Price Performance

Shares of Charles Schwab stock traded up $0.85 during midday trading on Tuesday, reaching $80.81. The company had a trading volume of 7,661,020 shares, compared to its average volume of 8,449,622. The stock has a fifty day simple moving average of $79.31 and a 200 day simple moving average of $75.11. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $146.55 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.34%. Charles Schwab's payout ratio is currently 36.12%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SCHW shares. UBS Group raised their target price on Charles Schwab from $90.00 to $95.00 and gave the company a "buy" rating in a report on Monday, January 27th. Citigroup boosted their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Piper Sandler increased their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the company an "outperform" rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $86.33.

Insider Buying and Selling at Charles Schwab

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 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 directly 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 filing with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 9,887 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the sale, the insider now directly owns 47,931 shares of the company's stock, valued at $3,613,038.78. This represents a 17.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 501,087 shares of company stock valued at $40,952,233. 6.60% of the stock is currently owned by insiders.

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.