Principal Financial Group Inc. grew its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,550,544 shares of the financial services provider's stock after purchasing an additional 180,099 shares during the period. Principal Financial Group Inc. owned about 0.36% of Charles Schwab worth $512,777,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in 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 worth $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC increased its stake 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 last quarter. Norges Bank acquired a new position in shares of Charles Schwab during the 4th quarter worth $1,289,544,000. Northern Trust Corp raised 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 valued at $1,164,911,000 after purchasing an additional 1,864,286 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Charles Schwab by 3.0% in the 4th quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider's stock valued at $1,098,497,000 after purchasing an additional 430,250 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Charles Schwab
In related news, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 20,872 shares of the business's stock in a transaction dated 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 sale, the insider directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 119,905 shares of company stock worth $10,530,833. Corporate insiders own 6.30% of the company's stock.
Charles Schwab Price Performance
Shares of Charles Schwab stock traded down $0.14 during trading on Friday, reaching $91.20. The company's stock had a trading volume of 5,765,549 shares, compared to its average volume of 9,546,720. The stock has a 50-day moving average price of $87.22 and a two-hundred day moving average price of $80.68. The stock has a market capitalization of $165.71 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a one year low of $61.01 and a one year high of $92.15.
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, topping analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio is 32.73%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. UBS Group raised their price objective on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Friday, April 25th. Cowen reiterated a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. Finally, Truist Financial upped their price target on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a report on Monday, June 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.40.
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About Charles Schwab
(
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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