Worldquant Millennium Advisors LLC Sells 61,844 Shares of The Charles Schwab Co. (NYSE:SCHW)

Worldquant Millennium Advisors LLC decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,483 shares of the financial services provider's stock after selling 61,844 shares during the period. Worldquant Millennium Advisors LLC's holdings in Charles Schwab were worth $23,793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Charles Schwab in the fourth quarter valued at approximately $1,289,544,000. Kovitz Investment Group Partners LLC lifted its stake in shares of Charles Schwab by 354.5% in the 4th 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 purchasing an additional 8,584,173 shares during the period. FMR LLC boosted its position in shares of 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 purchasing an additional 3,974,940 shares during the last quarter. Marshall Wace LLP grew its stake 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 worth $309,451,000 after purchasing an additional 3,684,640 shares during the period. Finally, Primecap Management Co. CA grew its stake 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 worth $314,716,000 after purchasing an additional 3,216,000 shares during the period. Institutional investors and hedge funds own 84.38% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Morgan Stanley raised their price objective on Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Cowen reiterated a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. Finally, Barclays decreased their target price on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and an average price target of $89.63.

Charles Schwab Stock Performance

Shares of NYSE:SCHW traded up $0.13 on Monday, hitting $87.44. The company had a trading volume of 5,150,130 shares, compared to its average volume of 9,392,108. The stock has a market cap of $158.88 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 0.99 and a beta of 0.90. The stock has a 50 day moving average price of $79.97 and a 200 day moving average price of $79.02. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $89.85. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. 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 business earned $0.74 EPS. Analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.

Insider Buying and Selling at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 10,176 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total value of $889,280.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan M. Craig sold 47,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. Insiders sold 96,088 shares of company stock valued at $8,105,928 in the last quarter. Company insiders own 6.30% of the company's stock.

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.