Cary Street Partners Financial LLC Acquires Shares of 19,654 The Charles Schwab Co. (NYSE:SCHW)

Cary Street Partners Financial LLC bought a new stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,654 shares of the financial services provider's stock, valued at approximately $1,455,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Charles Schwab in the 4th quarter valued at $1,289,544,000. Kovitz Investment Group Partners LLC raised its stake in Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after acquiring an additional 8,584,173 shares during the period. FMR LLC raised its stake in Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after acquiring an additional 3,974,940 shares during the period. Marshall Wace LLP raised its stake in Charles Schwab by 742.0% in the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after acquiring an additional 3,684,640 shares during the period. Finally, Primecap Management Co. CA raised its stake in Charles Schwab by 310.3% in the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after acquiring an additional 3,216,000 shares during the period. Institutional investors own 84.38% of the company's stock.

Charles Schwab Trading Up 0.6%

Charles Schwab stock traded up $0.55 during trading hours on Monday, hitting $85.02. The stock had a trading volume of 6,366,409 shares, compared to its average volume of 9,402,322. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $87.84. 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 market cap of $154.18 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 0.99 and a beta of 0.90. The business's 50 day simple moving average is $77.48 and its 200-day simple moving average is $77.92.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the company earned $0.74 earnings per share. On average, equities analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.27%. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

Insider Transactions at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares of the company's stock, valued at $67,770,450.07. This trade represents a 35.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value 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. Insiders sold 503,041 shares of company stock worth $41,072,558 over the last ninety days. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SCHW shares. Wells Fargo & Company dropped their price target on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Piper Sandler increased their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Barclays dropped their price target on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. The Goldman Sachs Group raised Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a report on Friday, April 25th. Finally, Truist Financial decreased their price objective on Charles Schwab from $85.00 to $84.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $87.22.

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.