CORDA Investment Management LLC. Sells 7,998 Shares of The Charles Schwab Corporation (NYSE:SCHW)

CORDA Investment Management LLC. decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 608,606 shares of the financial services provider's stock after selling 7,998 shares during the period. Charles Schwab makes up about 3.8% of CORDA Investment Management LLC.'s holdings, making the stock its 4th largest holding. CORDA Investment Management LLC.'s holdings in Charles Schwab were worth $47,642,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Charles Schwab during the fourth quarter valued at $1,289,544,000. Kovitz Investment Group Partners LLC raised its holdings in Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after acquiring an additional 8,584,173 shares during the period. FMR LLC grew its position in shares of Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after purchasing an additional 3,974,940 shares in the last quarter. Marshall Wace LLP grew its position in shares of Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after purchasing an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA grew its position in Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock worth $314,716,000 after acquiring an additional 3,216,000 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total value of $299,225.50. Following the sale, the insider directly owned 35,864 shares of the company's stock, valued at approximately $3,261,830.80. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. Insiders sold 119,905 shares of company stock valued at $10,530,833 in the last 90 days. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Up 1.0%

NYSE SCHW traded up $0.91 on Thursday, hitting $93.23. The stock had a trading volume of 2,630,292 shares, compared to its average volume of 9,547,961. The business's fifty day moving average price is $88.12 and its 200 day moving average price is $81.16. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The Charles Schwab Corporation has a 52-week low of $61.01 and a 52-week high of $93.35. The stock has a market cap of $169.39 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same period in the previous year, the company earned $0.74 earnings per share. Equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.27 dividend. 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%.

Analyst Upgrades and Downgrades

SCHW has been the subject of several recent research reports. Cowen reiterated a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Barclays dropped their target price on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Wells Fargo & Company dropped their target price on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group upgraded Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Friday, April 25th. Finally, TD Securities boosted their target price on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $90.85.

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.