KBC Group NV Reduces Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

KBC Group NV cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,090,439 shares of the financial services provider's stock after selling 47,594 shares during the period. KBC Group NV owned 0.12% of Charles Schwab worth $163,640,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Charles Schwab by 0.9% during the fourth 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 lifted its stake in shares of Charles Schwab by 2.5% in the fourth 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 purchasing an additional 760,043 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock valued at $1,513,894,000 after purchasing an additional 265,708 shares during the period. Norges Bank acquired a new stake in shares of Charles Schwab in the fourth quarter valued at about $1,289,544,000. Finally, Northern Trust Corp lifted its stake in shares of Charles Schwab by 13.4% in the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after purchasing an additional 1,864,286 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 0.6%

Shares of SCHW stock opened at $90.02 on Friday. The firm has a 50-day moving average price of $86.10 and a 200 day moving average price of $80.38. The Charles Schwab Corporation has a twelve month low of $61.01 and a twelve month high of $90.86. The company has a market capitalization of $163.56 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 0.96 and a beta of 0.94. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its 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. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the company posted $0.74 EPS. Research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.

Analyst Ratings Changes

Several brokerages recently commented on SCHW. TD Securities raised their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Truist Financial raised their price objective on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Wells Fargo & Company reduced their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Barclays cut their price target on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. 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 note 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.40.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the sale, the director now owns 172,162 shares in the company, valued at $12,784,750.12. The trade was a 2.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the sale, the director now owns 105,654 shares of the company's stock, valued at $9,303,891.24. This trade represents a 7.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,995 shares of company stock valued at $10,493,320. 6.30% of the stock is owned by insiders.

Charles Schwab Company 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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