KBC Group NV Lowers Stock Position in The Charles Schwab Corporation $SCHW

Key Points

• KBC Group NV cut its stake in Charles Schwab by 38.9% in the first quarter, selling 443,176 shares and leaving it with 697,547 shares worth about $65.6 million.
• Several analysts remain constructive on SCHW, with firms such as Truist, TD Cowen, Deutsche Bank, KBW, and Morgan Stanley issuing or reaffirming buy/overweight ratings. The stock currently carries a Moderate Buy consensus and a target price of $117.65.
• Charles Schwab recently traded at $102.92, near its 12-month high of $107.50, and paid a quarterly dividend of $0.32 per share for an annualized yield of about 1.2%.

KBC Group NV reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 38.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 697,547 shares of the financial services provider's stock after selling 443,176 shares during the period. KBC Group NV's holdings in Charles Schwab were worth $65,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Souders Financial Advisors grew its holdings in shares of Charles Schwab by 2.3% in the fourth quarter. Souders Financial Advisors now owns 4,341 shares of the financial services provider's stock valued at $434,000 after acquiring an additional 98 shares in the last quarter. Lantz Financial LLC increased its position in shares of Charles Schwab by 3.1% during the fourth quarter. Lantz Financial LLC now owns 3,243 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 99 shares during the last quarter. Roberts Wealth Advisors LLC lifted its holdings in Charles Schwab by 0.5% during the fourth quarter. Roberts Wealth Advisors LLC now owns 22,961 shares of the financial services provider's stock worth $2,294,000 after acquiring an additional 105 shares during the period. Essex Financial Services Inc. lifted its holdings in Charles Schwab by 0.8% during the fourth quarter. Essex Financial Services Inc. now owns 12,833 shares of the financial services provider's stock worth $1,282,000 after acquiring an additional 105 shares during the period. Finally, JFS Wealth Advisors LLC boosted its position in Charles Schwab by 0.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 24,626 shares of the financial services provider's stock worth $2,460,000 after purchasing an additional 107 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, Director Frank C. Herringer sold 2,520 shares of Charles Schwab stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total value of $228,312.00. Following the completion of the transaction, the director directly owned 177,508 shares in the company, valued at approximately $16,082,224.80. The trade was a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Beatty sold 2,000 shares of the business's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $100.01, for a total value of $200,020.00. Following the sale, the insider owned 13,738 shares in the company, valued at approximately $1,373,937.38. The trade was a 12.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 6,520 shares of company stock worth $622,392. Company insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SCHW. Truist Financial reduced their price objective on Charles Schwab from $122.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. TD Cowen lifted their target price on Charles Schwab from $108.00 to $109.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $128.00 price target on shares of Charles Schwab in a research report on Friday, May 15th. Keefe, Bruyette & Woods initiated coverage on shares of Charles Schwab in a report on Wednesday, April 8th. They set an "outperform" rating and a $110.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on shares of Charles Schwab from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $117.65.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $102.92 on Tuesday. The stock has a market capitalization of $178.99 billion, a P/E ratio of 20.42, a PEG ratio of 0.85 and a beta of 0.77. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The firm's 50 day moving average is $93.07 and its 200 day moving average is $95.34. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $107.50.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab's payout ratio is presently 25.40%.

Charles Schwab Profile

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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