Equity Investment Corp reduced its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,563,592 shares of the financial services provider's stock after selling 41,215 shares during the quarter. Charles Schwab accounts for about 2.7% of Equity Investment Corp's investment portfolio, making the stock its 13th largest holding. Equity Investment Corp owned about 0.09% of Charles Schwab worth $122,398,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of SCHW. Vanguard Group Inc. lifted its holdings in shares of Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after purchasing an additional 1,187,384 shares in the last quarter. Geode Capital Management LLC lifted 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 acquiring an additional 760,043 shares in the last quarter. Norges Bank acquired a new position in Charles Schwab during the 4th quarter worth approximately $1,289,544,000. Northern Trust Corp boosted its position 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 acquiring an additional 1,864,286 shares during the last quarter. Finally, Invesco Ltd. grew its stake 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 acquiring an additional 430,250 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.
Analyst Ratings Changes
SCHW has been the subject of several recent research reports. Cowen restated a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Piper Sandler lifted their target price on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Finally, The Goldman Sachs Group upgraded Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $95.60.
Read Our Latest Analysis on SCHW
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 stock was 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 of the company's stock, 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 SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 10,129 shares of Charles Schwab stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $911,711.29. Following the sale, the insider owned 39,154 shares in the company, valued at approximately $3,524,251.54. This represents a 20.55% decrease in their ownership of the stock. 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. 6.30% of the stock is owned by company insiders.
Charles Schwab Price Performance
Shares of SCHW traded up $1.86 during trading hours on Thursday, hitting $93.12. 8,117,369 shares of the company were exchanged, compared to its average volume of 9,483,303. The company has a market cap of $169.19 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 0.97 and a beta of 0.93. 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 Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $93.40. The firm's fifty day moving average is $89.04 and its 200 day moving average is $81.76.
Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. The company 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 31.71% and a return on equity of 18.31%. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.
Charles Schwab Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.
Charles Schwab Company Profile
(
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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