Cooke & Bieler LP Sells 326,262 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Cooke & Bieler LP decreased its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 11.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,412,315 shares of the financial services provider's stock after selling 326,262 shares during the period. Charles Schwab comprises about 1.9% of Cooke & Bieler LP's investment portfolio, making the stock its 15th biggest holding. Cooke & Bieler LP owned 0.13% of Charles Schwab worth $188,836,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 worth $9,516,075,000 after purchasing an additional 1,187,384 shares during the period. Geode Capital Management LLC increased 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 worth $2,279,742,000 after purchasing an additional 760,043 shares during the period. Norges Bank bought a new position in shares of Charles Schwab during the 4th quarter worth about $1,289,544,000. Northern Trust Corp increased its holdings in shares of 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 period. Finally, Invesco Ltd. increased its holdings in shares of Charles Schwab by 3.0% during the 4th 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 during the period. Institutional investors and hedge funds own 84.38% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Citigroup restated an "outperform" rating on shares of Charles Schwab in a research report on Monday. UBS Group boosted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Piper Sandler boosted their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Cowen restated a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, Charles Schwab presently has an average rating of "Moderate Buy" and an average target price of $95.60.

Charles Schwab Trading Up 3.0%

NYSE:SCHW traded up $2.77 during trading hours on Friday, hitting $95.87. The stock had a trading volume of 23,552,773 shares, compared to its average volume of 9,416,154. The Charles Schwab Corporation has a one year low of $61.15 and a one year high of $98.49. 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 company has a market cap of $174.19 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 0.95 and a beta of 0.93. The business's 50 day moving average is $89.21 and its 200-day moving average is $81.89.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The business's quarterly revenue was up 24.8% on a year-over-year basis. Sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company 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. This represents a $1.08 annualized dividend and a yield of 1.13%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is presently 32.73%.

Insider Transactions at Charles Schwab

In other news, 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 transaction, the insider owned 58,999 shares in the company, valued at $5,310,499.99. This represents a 26.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total transaction of $299,225.50. Following the completion of the transaction, the insider owned 35,864 shares of the company's stock, valued at $3,261,830.80. This trade represents a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,905 shares of company stock valued at $10,530,833. Corporate insiders own 6.30% of the company's stock.

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.