Allspring Global Investments Holdings LLC Purchases 78,169 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Allspring Global Investments Holdings LLC boosted its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 809,616 shares of the financial services provider's stock after acquiring an additional 78,169 shares during the period. Allspring Global Investments Holdings LLC's holdings in Charles Schwab were worth $62,883,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after acquiring an additional 1,187,384 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock valued at $2,279,742,000 after acquiring an additional 760,043 shares in the last quarter. Norges Bank bought a new stake in Charles Schwab in the fourth quarter valued at $1,289,544,000. Northern Trust Corp boosted its holdings in Charles Schwab by 13.4% in the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after acquiring an additional 1,864,286 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Charles Schwab by 3.0% in the fourth quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider's stock valued at $1,098,497,000 after acquiring an additional 430,250 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SCHW. UBS Group raised their price objective on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price objective on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. TD Securities raised their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. JMP Securities reissued a "market outperform" rating and set a $94.00 price objective on shares of Charles Schwab in a research report on Monday, April 21st. Finally, Piper Sandler raised their price objective on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $89.40.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $90.02 on Monday. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $90.86. The business has a 50-day simple moving average of $86.10 and a two-hundred day simple moving average of $80.36. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $163.56 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. On average, analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

Insiders Place Their Bets

In other news, insider Jonathan M. Craig sold 9,559 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $82.00, for a total transaction of $783,838.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the company's 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 sale, the director now directly owns 172,162 shares of the company's stock, valued at $12,784,750.12. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,995 shares of company stock valued at $10,493,320. 6.30% of the stock is owned by insiders.

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.

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