The Charles Schwab Co. (NYSE:SCHW) Holdings Cut by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHWFree Report) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,249 shares of the financial services provider’s stock after selling 231 shares during the period. Main Street Financial Solutions LLC’s holdings in Charles Schwab were worth $499,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SCHW. Investment Research & Advisory Group Inc. increased its position in Charles Schwab by 1.0% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after purchasing an additional 607 shares during the last quarter. Bamco Inc. NY increased its holdings in Charles Schwab by 0.5% in the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock worth $444,826,000 after buying an additional 42,588 shares during the last quarter. Retirement Systems of Alabama raised its position in Charles Schwab by 13.0% during the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after acquiring an additional 152,967 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Charles Schwab by 22.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after acquiring an additional 160,719 shares during the last quarter. Finally, Wright Investors Service Inc. grew its position in Charles Schwab by 9.3% in the fourth quarter. Wright Investors Service Inc. now owns 47,164 shares of the financial services provider’s stock worth $3,245,000 after acquiring an additional 4,001 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SCHW shares. Barclays lifted their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Piper Sandler raised their price objective on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $74.47.

Check Out Our Latest Report on Charles Schwab

Charles Schwab Stock Performance

SCHW traded up $0.74 on Friday, hitting $78.78. 6,467,194 shares of the stock traded hands, compared to its average volume of 6,665,524. The business has a fifty day moving average price of $72.74 and a two-hundred day moving average price of $66.53. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $140.01 billion, a PE ratio of 32.96, a P/E/G ratio of 1.15 and a beta of 0.98. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.22.

Charles Schwab (NYSE:SCHWGet Free Report) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. On average, research analysts predict that The Charles Schwab Co. will post 3.4 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio is 41.84%.

Insider Transactions at Charles Schwab

In related news, insider Nigel J. Murtagh sold 29,991 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 81,446 shares of the company’s stock, valued at $5,522,038.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 65,360 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $76.89, for a total transaction of $5,025,530.40. Following the sale, the chairman now directly owns 60,741,536 shares of the company’s stock, valued at $4,670,416,703.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nigel J. Murtagh sold 29,991 shares of Charles Schwab stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the completion of the transaction, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The disclosure for this sale can be found here. In the last three months, insiders sold 672,036 shares of company stock valued at $49,281,565. Company insiders own 6.60% of the company’s stock.

Charles Schwab Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Co. (NYSE:SCHWFree Report).

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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