Bessemer Group Inc. Reduces Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Bessemer Group Inc. reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 297,827 shares of the financial services provider's stock after selling 25,474 shares during the quarter. Bessemer Group Inc.'s holdings in Charles Schwab were worth $23,314,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after buying an additional 1,187,384 shares during the period. Geode Capital Management LLC raised its holdings in shares of Charles Schwab by 2.5% during 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 during the period. Fisher Asset Management LLC increased its holdings in Charles Schwab by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after purchasing an additional 265,708 shares during the last quarter. Norges Bank purchased a new stake in Charles Schwab during the 4th quarter worth approximately $1,289,544,000. Finally, Northern Trust Corp increased its holdings in Charles Schwab by 13.4% during the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock worth $1,164,911,000 after purchasing an additional 1,864,286 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $65.00 to $82.00 in a report on Monday, June 9th. JPMorgan Chase & Co. lifted their price objective on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Piper Sandler lifted their price objective on Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. TD Securities boosted their price target on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $89.40.

Charles Schwab Trading Down 0.3%

Shares of SCHW stock opened at $89.55 on Friday. 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 Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $90.86. The stock has a fifty day moving average of $85.83 and a two-hundred day moving average of $80.34. The firm has a market capitalization of $162.70 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results 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 18.31% and a net margin of 31.71%. The company 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 posted $0.74 EPS. As a group, research analysts expect that The Charles Schwab Corporation will post 4.22 EPS 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 paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio is presently 32.73%.

Insider Transactions at Charles Schwab

In other news, insider Jonathan M. Craig sold 47,500 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul V. Woolway sold 10,129 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $911,711.29. Following the sale, the insider now directly owns 39,154 shares in the company, valued at $3,524,251.54. This trade represents a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,995 shares of company stock valued at $10,493,320. Corporate insiders own 6.30% of the company's stock.

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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