Principal Financial Group Inc. Reduces Position in The Charles Schwab Co. (NYSE:SCHW)

Principal Financial Group Inc. lowered its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 4.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,370,445 shares of the financial services provider's stock after selling 303,456 shares during the period. Principal Financial Group Inc. owned 0.36% of Charles Schwab worth $471,477,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SCHW. State Street Corp boosted its stake in Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider's stock valued at $4,023,175,000 after purchasing an additional 414,949 shares during the last quarter. Geode Capital Management LLC boosted its stake in Charles Schwab by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider's stock valued at $1,945,614,000 after purchasing an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Charles Schwab by 6.3% during the 3rd 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 purchasing an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. boosted its stake in 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 valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Charles Schwab by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider's stock valued at $1,308,485,000 after purchasing an additional 493,264 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SCHW. Truist Financial increased their price target on Charles Schwab from $90.00 to $91.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. increased their price target on Charles Schwab from $87.00 to $93.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Piper Sandler increased their price target on Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. UBS Group increased their price target on Charles Schwab from $90.00 to $95.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, Barclays increased their price target on Charles Schwab from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $86.33.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction dated 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 transaction, the chairman now owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 502,859 shares of company stock valued at $41,161,496 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Price Performance

NYSE:SCHW traded up $0.47 on Wednesday, reaching $81.95. 4,576,871 shares of the company's stock 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 stock has a 50-day simple moving average of $77.99 and a 200-day simple moving average of $72.70. The firm has a market cap of $145.97 billion, a PE ratio of 27.39, a P/E/G ratio of 0.97 and a beta of 0.99. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to analysts' expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business's quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. 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 will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.32%. Charles Schwab's dividend payout ratio (DPR) is currently 36.12%.

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.