Twin City Private Wealth LLC Sells 3,209 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• Twin City Private Wealth LLC reduced its holdings in Charles Schwab by 9.9%, owning 29,368 shares valued at approximately $2.3 million, making it the firm's 16th largest holding.
• Several institutional investors significantly increased their stakes in Charles Schwab during the fourth quarter, with Kovitz Investment Group raising its position by 354.5% to over 11 million shares.
• Charles Schwab recently announced a quarterly dividend of $0.27, with a payout ratio of 29.03%, and approved a $20 billion stock repurchase program, indicating confidence in its stock value.

Twin City Private Wealth LLC lowered its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,368 shares of the financial services provider's stock after selling 3,209 shares during the period. Charles Schwab comprises 2.0% of Twin City Private Wealth LLC's holdings, making the stock its 16th biggest holding. Twin City Private Wealth LLC's holdings in Charles Schwab were worth $2,299,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC boosted its position in shares of Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after buying an additional 19,195 shares during the period. Aster Capital Management DIFC Ltd raised its position in Charles Schwab by 213.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,606 shares of the financial services provider's stock valued at $119,000 after buying an additional 1,094 shares during the period. FMR LLC lifted its stake in Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after acquiring an additional 3,974,940 shares in the last quarter. Shelton Capital Management boosted its position in Charles Schwab by 17.5% during the 4th quarter. Shelton Capital Management now owns 90,959 shares of the financial services provider's stock worth $6,732,000 after acquiring an additional 13,542 shares during the period. Finally, FIL Ltd grew its stake in Charles Schwab by 159.0% during the 4th quarter. FIL Ltd now owns 923,000 shares of the financial services provider's stock valued at $68,311,000 after acquiring an additional 566,591 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan M. Craig sold 47,500 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total value of $4,201,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 10,129 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 transaction of $911,711.29. Following the transaction, the insider owned 39,154 shares in the company, valued at approximately $3,524,251.54. The trade was a 20.55% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 308,016 shares of company stock worth $29,341,433. 6.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SCHW shares. Piper Sandler increased their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. TD Securities lifted their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the company an "overweight" rating in a research note on Friday, July 18th. Bank of America raised their price target on Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research note on Monday, July 21st. Finally, Truist Financial boosted their price target on Charles Schwab from $100.00 to $107.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.35.

Charles Schwab Stock Performance

NYSE:SCHW traded down $0.81 during midday trading on Thursday, reaching $95.91. The stock had a trading volume of 7,260,222 shares, compared to its average volume of 9,161,237. The stock has a market capitalization of $174.26 billion, a P/E ratio of 25.78, a PEG ratio of 0.93 and a beta of 0.96. The Charles Schwab Corporation has a 1-year low of $61.16 and a 1-year high of $99.59. 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 firm's fifty day simple moving average is $91.98 and its 200-day simple moving average is $84.24.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.73%. The business's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 earnings per share. On average, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has authorized a stock buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 8th. Charles Schwab's payout ratio is currently 29.03%.

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.