Yacktman Asset Management LP Trims Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

Yacktman Asset Management LP reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,709,043 shares of the financial services provider's stock after selling 165,027 shares during the period. Charles Schwab makes up about 4.8% of Yacktman Asset Management LP's holdings, making the stock its 4th largest position. Yacktman Asset Management LP owned about 0.26% of Charles Schwab worth $368,624,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in Charles Schwab by 0.9% in the 4th 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 during the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 760,043 shares during the last quarter. Norges Bank acquired a new position in Charles Schwab in the 4th quarter valued at about $1,289,544,000. Northern Trust Corp raised its stake in Charles Schwab by 13.4% in 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 during the last quarter. Finally, Invesco Ltd. raised its stake in 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 currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SCHW shares. 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 research note on Friday, April 25th. UBS Group increased their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Raymond James Financial increased their price objective on shares of Charles Schwab from $91.00 to $99.00 and gave the stock an "outperform" rating in a report on Wednesday. Cowen reiterated a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $90.85.

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 that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 20,872 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 value of $1,878,688.72. Following the sale, the insider directly owned 58,999 shares of the company's stock, valued at approximately $5,310,499.99. The trade was a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,905 shares of company stock valued at $10,530,833. 6.30% of the stock is owned by insiders.

Charles Schwab Stock Performance

Shares of SCHW traded up $0.85 on Thursday, reaching $93.17. 2,766,270 shares of the stock traded hands, compared to its average volume of 10,228,011. The stock's 50-day moving average price is $88.12 and its 200-day moving average price is $81.16. The Charles Schwab Corporation has a 12 month low of $61.01 and a 12 month high of $93.35. The firm has a market cap of $169.29 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 0.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.

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 (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio is presently 32.73%.

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.