The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,723,150 shares of the financial services provider's stock after purchasing an additional 493,126 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.55% of Charles Schwab worth $719,596,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Charles Schwab by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider's stock worth $432,536,000 after purchasing an additional 38,201 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock worth $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Versant Capital Management Inc lifted its position in Charles Schwab by 345.3% during the fourth quarter. Versant Capital Management Inc now owns 1,532 shares of the financial services provider's stock valued at $113,000 after purchasing an additional 1,188 shares during the period. GAMMA Investing LLC boosted its holdings in Charles Schwab by 16.1% in the fourth quarter. GAMMA Investing LLC now owns 21,149 shares of the financial services provider's stock worth $1,565,000 after purchasing an additional 2,938 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Charles Schwab by 6.2% during the 4th quarter. Nordea Investment Management AB now owns 129,431 shares of the financial services provider's stock valued at $9,571,000 after buying an additional 7,499 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of several recent research reports. UBS Group increased their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Redburn Partners decreased their target price on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Piper Sandler lifted their price target on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Finally, Truist Financial reduced their price objective on shares of Charles Schwab from $85.00 to $84.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.22.

Charles Schwab Stock Up 0.5 %

Shares of NYSE SCHW traded up $0.40 during midday trading on Friday, hitting $84.50. 3,096,812 shares of the company's stock were exchanged, compared to its average volume of 11,502,985. The firm's fifty day simple moving average is $77.29 and its 200-day simple moving average is $77.75. 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 company has a market cap of $153.25 billion, a PE ratio of 28.26, a P/E/G ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $85.19.

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

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders 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 yield of 1.28%. Charles Schwab's payout ratio is 32.73%.

Insider Buying and Selling at Charles Schwab

In related news, insider Paul V. Woolway sold 3,380 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the sale, the insider now owns 57,818 shares of the company's stock, valued at approximately $4,586,123.76. The trade was a 5.52 % 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, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the transaction, the director now directly owns 172,162 shares of the company's stock, valued at approximately $12,784,750.12. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 503,041 shares of company stock worth $41,072,558. 6.30% 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.