Truist Financial Corp Lowers Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Truist Financial Corp trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,830,654 shares of the financial services provider's stock after selling 71,054 shares during the period. Truist Financial Corp owned approximately 0.10% of Charles Schwab worth $143,304,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $1,289,544,000. Kovitz Investment Group Partners LLC increased its position in shares of 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 in the last quarter. FMR LLC increased 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 acquiring an additional 3,974,940 shares in the last quarter. Marshall Wace LLP increased 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 acquiring an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in shares of Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after acquiring an additional 3,216,000 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Truist Financial lifted their target price on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Morgan Stanley lifted their target price on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group raised shares of 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Charles Schwab has an average rating of "Moderate Buy" and an average price target of $89.40.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the sale, the director owned 105,654 shares in the company, valued at $9,303,891.24. The trade was a 7.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was 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 a total of 119,905 shares of company stock valued at $10,530,833 in the last ninety days. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $91.20 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a twelve month low of $61.01 and a twelve month high of $92.15. The business has a 50-day moving average price of $87.44 and a 200-day moving average price of $80.78. The firm has a market cap of $165.71 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93.

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

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.18%. Charles Schwab's dividend payout ratio is 32.73%.

Charles Schwab 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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