AustralianSuper Pty Ltd trimmed its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 28.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,362,315 shares of the financial services provider's stock after selling 543,001 shares during the period. AustralianSuper Pty Ltd owned 0.08% of Charles Schwab worth $106,642,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Charles Schwab by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock worth $9,516,075,000 after buying an additional 1,187,384 shares during the period. Geode Capital Management LLC boosted its stake in Charles Schwab by 2.5% in the 4th 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 buying an additional 760,043 shares in the last quarter. Norges Bank acquired a new stake in Charles Schwab in the 4th quarter valued at $1,289,544,000. Northern Trust Corp boosted its stake in Charles Schwab by 13.4% in the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after buying an additional 1,864,286 shares in the last quarter. Finally, Invesco Ltd. boosted its stake 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 worth $1,098,497,000 after purchasing an additional 430,250 shares in the last quarter. 84.38% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have commented on SCHW shares. Citigroup reissued an "outperform" rating on shares of Charles Schwab in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Raymond James Financial reissued an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a research note on Friday. Morgan Stanley reissued an "overweight" rating and issued a $117.00 price objective (up previously from $83.00) on shares of Charles Schwab in a research note on Tuesday, July 15th. Finally, Piper Sandler boosted their target price on Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $95.60.
View Our Latest Report on Charles Schwab
Insider Activity at Charles Schwab
In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the sale, the director owned 105,654 shares in the company, valued at $9,303,891.24. This represents a 7.57% 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, insider Nigel J. Murtagh sold 20,872 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $1,878,688.72. Following the completion of the sale, the insider owned 58,999 shares in the company, valued at $5,310,499.99. This represents a 26.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,905 shares of company stock valued at $10,530,833 over the last ninety days. Company insiders own 6.30% of the company's stock.
Charles Schwab Trading Up 3.0%
NYSE SCHW traded up $2.77 on Friday, reaching $95.87. The company had a trading volume of 23,552,773 shares, compared to its average volume of 9,345,964. The Charles Schwab Corporation has a 52 week low of $61.15 and a 52 week high of $97.50. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The stock has a market cap of $174.19 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.00 and a beta of 0.93. The stock's 50 day moving average is $89.44 and its 200-day moving average is $82.09.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The firm had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. The company's revenue was up 24.8% on a year-over-year basis. Equities analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.
Charles Schwab Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.13%. Charles Schwab's dividend payout ratio is currently 32.73%.
About Charles Schwab
(
Free Report)
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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