Cambridge Investment Research Advisors Inc. Sells 20,527 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Cambridge Investment Research Advisors Inc. trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 10.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 171,467 shares of the financial services provider's stock after selling 20,527 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Charles Schwab were worth $13,422,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Charles Schwab in the 4th quarter worth $1,289,544,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock worth $814,545,000 after purchasing an additional 8,584,173 shares in the last quarter. FMR LLC lifted its holdings in shares of Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after purchasing an additional 3,974,940 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Charles Schwab by 742.0% in the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock worth $309,451,000 after purchasing an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in Charles Schwab by 310.3% in the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after buying an additional 3,216,000 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SCHW. Wells Fargo & Company lowered their price target on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. TD Securities increased their price target on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Cowen reissued a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Piper Sandler increased their price target on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group raised Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.40.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.43, for a total value of $261,713.40. Following the completion of the sale, the insider now owns 45,824 shares in the company, valued at approximately $3,548,152.32. The trade was a 6.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 119,995 shares of company stock worth $10,493,320 in the last quarter. 6.30% of the stock is owned by company insiders.

Charles Schwab Trading Up 1.1%

Shares of Charles Schwab stock opened at $89.31 on Wednesday. The stock has a fifty day moving average price of $85.28 and a 200-day moving average price of $80.21. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $90.60. The firm has a market cap of $162.27 billion, a PE ratio of 27.06, a P/E/G ratio of 0.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm posted $0.74 EPS. Equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.21%. Charles Schwab's dividend payout ratio is currently 32.73%.

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.

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