Amalgamated Bank Sells 18,485 Shares of The Charles Schwab Co. (NYSE:SCHW)

Amalgamated Bank decreased its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 358,518 shares of the financial services provider's stock after selling 18,485 shares during the period. Amalgamated Bank's holdings in Charles Schwab were worth $24,666,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in Charles Schwab by 26.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider's stock valued at $1,634,700,000 after acquiring an additional 6,195,934 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Charles Schwab by 186.2% in the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider's stock worth $390,234,000 after buying an additional 4,624,302 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Charles Schwab by 134.3% in the third quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider's stock worth $290,986,000 after buying an additional 3,038,517 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Charles Schwab by 31.1% during the 3rd quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider's stock valued at $397,877,000 after buying an additional 1,717,137 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Charles Schwab by 3,123.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider's stock valued at $74,686,000 after buying an additional 1,318,203 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Charles R. Schwab sold 71,226 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.99, for a total value of $4,628,977.74. Following the completion of the sale, the chairman now directly owns 61,251,038 shares of the company's stock, valued at $3,980,704,959.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Charles R. Schwab sold 71,226 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.99, for a total value of $4,628,977.74. Following the completion of the transaction, the chairman now owns 61,251,038 shares of the company's stock, valued at $3,980,704,959.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nigel J. Murtagh sold 29,991 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total value of $2,033,389.80. Following the sale, the insider now directly owns 81,446 shares in the company, valued at approximately $5,522,038.80. The disclosure for this sale can be found here. Insiders sold a total of 514,459 shares of company stock valued at $36,371,155 in the last ninety days. Corporate insiders own 6.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler increased their target price on Charles Schwab from $75.00 to $78.00 and gave the company an "overweight" rating in a research report on Friday, April 12th. Morgan Stanley boosted their target price on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $75.00 to $77.00 and gave the company a "buy" rating in a report on Tuesday, March 19th. Citigroup boosted their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. Finally, StockNews.com raised Charles Schwab from a "sell" rating to a "hold" rating in a research note on Friday, March 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $74.47.

Charles Schwab Trading Up 0.9 %

SCHW stock traded up $0.71 during mid-day trading on Friday, reaching $76.04. The company had a trading volume of 5,387,141 shares, compared to its average volume of 7,637,154. The company has a market capitalization of $135.05 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 1.09 and a beta of 0.98. The firm has a 50 day moving average of $70.52 and a 200 day moving average of $64.48. The Charles Schwab Co. has a 12 month low of $45.65 and a 12 month high of $76.47. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Thursday, May 9th. Charles Schwab's dividend payout ratio (DPR) is presently 41.84%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.