The Charles Schwab Co. (NYSE:SCHW) is Toronto Dominion Bank's Largest Position

Toronto Dominion Bank lowered its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 17.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,425,391 shares of the financial services provider's stock after selling 40,537,580 shares during the quarter. Charles Schwab accounts for 21.2% of Toronto Dominion Bank's portfolio, making the stock its largest position. Toronto Dominion Bank owned about 10.42% of Charles Schwab worth $12,017,420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of 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 worth $4,023,175,000 after acquiring an additional 414,949 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 worth $1,945,614,000 after acquiring an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 worth $1,858,706,000 after acquiring an additional 1,711,312 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of 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 worth $1,308,485,000 after acquiring an additional 493,264 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Charles Schwab by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider's stock worth $802,193,000 after acquiring an additional 225,397 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 12,739 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the sale, the insider now directly owns 59,092 shares of the company's stock, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company's stock, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,968 shares of company stock valued at $9,419,271. Company insiders own 6.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SCHW. Barclays upgraded shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $74.00 to $95.00 in a research note on Monday. JPMorgan Chase & Co. lifted their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Cowen lifted their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. Piper Sandler lifted their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the company a "neutral" rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Charles Schwab from a "sell" rating to a "hold" rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $78.81.

Charles Schwab Price Performance

Shares of Charles Schwab stock traded up $0.15 during trading hours on Wednesday, reaching $82.47. The company's stock had a trading volume of 2,790,659 shares, compared to its average volume of 7,979,079. The firm has a 50 day moving average price of $74.78 and a 200-day moving average price of $70.23. The Charles Schwab Co. has a one year low of $59.67 and a one year high of $83.35. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market cap of $146.77 billion, a P/E ratio of 32.24, a P/E/G ratio of 1.77 and a beta of 0.96.

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

Charles Schwab Dividend Announcement

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

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.