BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 498,057 Shares of The Charles Schwab Co. (NYSE:SCHW)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 50.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 496,195 shares of the financial services provider's stock after selling 498,057 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Charles Schwab were worth $36,723,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SCHW. Murphy & Mullick Capital Management Corp bought a new position in Charles Schwab in the 4th quarter worth about $38,000. Atala Financial Inc bought a new position in shares of Charles Schwab during the 4th quarter valued at $41,000. Knuff & Co LLC increased its holdings in shares of Charles Schwab by 1,309.3% in the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock worth $45,000 after buying an additional 563 shares during the period. Financial Life Planners bought a new stake in Charles Schwab in the fourth quarter valued at approximately $46,000. Finally, Whipplewood Advisors LLC bought a new stake in Charles Schwab during the 4th quarter valued at $46,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research analyst reports. The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Friday, April 25th. 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. Barclays cut their target price 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. Piper Sandler upped their price target on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Finally, TD Cowen upgraded shares of Charles Schwab from a "hold" rating to a "buy" rating and raised their price objective for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.63.

Charles Schwab Trading Down 0.1%

SCHW stock opened at $89.13 on Wednesday. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $89.87. The firm's 50-day moving average is $79.37 and its 200 day moving average is $78.67. The company has a market capitalization of $161.95 billion, a PE ratio of 29.81, a P/E/G ratio of 0.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

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

Charles Schwab Announces Dividend

The firm 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 $0.27 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.21%. Charles Schwab's payout ratio is 32.73%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 9,887 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the transaction, the insider now owns 47,931 shares of the company's stock, valued at $3,613,038.78. This trade represents a 17.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frank C. Herringer sold 3,592 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the transaction, the director now owns 172,162 shares of the company's stock, valued at $12,784,750.12. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,412 shares of company stock worth $3,014,797. 6.30% of the stock is currently 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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