Allstate Corp Decreases Position in The Charles Schwab Co. (NYSE:SCHW)

Allstate Corp trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 11.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,307 shares of the financial services provider’s stock after selling 547 shares during the period. Allstate Corp’s holdings in Charles Schwab were worth $296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. Balboa Wealth Partners raised its holdings in shares of Charles Schwab by 18.2% in the fourth quarter. Balboa Wealth Partners now owns 18,551 shares of the financial services provider’s stock worth $1,276,000 after buying an additional 2,852 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Charles Schwab by 15.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 7,229 shares of the financial services provider’s stock worth $497,000 after buying an additional 967 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in shares of Charles Schwab in the fourth quarter worth $30,000. Alpha Family Trust raised its holdings in shares of Charles Schwab by 30.3% in the fourth quarter. Alpha Family Trust now owns 6,070 shares of the financial services provider’s stock worth $418,000 after buying an additional 1,410 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new position in shares of Charles Schwab in the fourth quarter worth $1,042,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Charles Schwab stock traded up $0.54 during trading on Friday, reaching $72.88. The company had a trading volume of 1,954,547 shares, compared to its average volume of 7,557,375. The firm’s 50-day simple moving average is $73.50 and its 200 day simple moving average is $67.05. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The firm has a market capitalization of $129.53 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results 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. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.4 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared 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 1.37%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analysts Set New Price Targets

A number of research analysts have issued reports on SCHW shares. Citigroup raised their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. TD Cowen reduced their target price on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating for the company in a report on Thursday. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Charles Schwab from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday. Finally, UBS Group raised their target price on shares of Charles Schwab from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $75.12.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total transaction of $587,610.00. Following the transaction, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Peter B. Crawford sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $65.71, for a total transaction of $361,405.00. Following the sale, the chief financial officer now directly owns 24,111 shares of the company’s stock, valued at approximately $1,584,333.81. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total value of $587,610.00. Following the transaction, the director now directly owns 585,057 shares of the company’s stock, valued at $38,198,371.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 622,536 shares of company stock worth $46,208,155. 6.60% of the stock is owned by corporate insiders.

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.