Atlantic Union Bankshares Corp lessened its position in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 5.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 142,475 shares of the financial services provider’s stock after selling 8,792 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Charles Schwab were worth $14,235,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Charles Schwab by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 151,585,214 shares of the financial services provider’s stock worth $14,471,840,000 after buying an additional 403,133 shares during the last quarter. State Street Corp grew its stake in Charles Schwab by 1.0% during the 3rd quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock worth $6,984,231,000 after buying an additional 691,671 shares during the last quarter. Fisher Asset Management LLC grew its stake in Charles Schwab by 1.3% during the 3rd quarter. Fisher Asset Management LLC now owns 21,646,588 shares of the financial services provider’s stock worth $2,066,600,000 after buying an additional 269,898 shares during the last quarter. Primecap Management Co. CA grew its stake in Charles Schwab by 11.4% during the 3rd quarter. Primecap Management Co. CA now owns 21,209,187 shares of the financial services provider’s stock worth $2,024,841,000 after buying an additional 2,174,381 shares during the last quarter. Finally, Viking Global Investors LP grew its stake in Charles Schwab by 5.1% during the 3rd quarter. Viking Global Investors LP now owns 16,583,101 shares of the financial services provider’s stock worth $1,583,189,000 after buying an additional 809,876 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.
Charles Schwab Trading Up 2.7%
Shares of SCHW stock opened at $90.19 on Wednesday. The business’s 50 day moving average is $93.32 and its two-hundred day moving average is $96.05. The Charles Schwab Corporation has a twelve month low of $85.11 and a twelve month high of $107.50. The company has a market capitalization of $156.86 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 0.69 and a beta of 0.80. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48.
Charles Schwab Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 25.40%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on SCHW shares. Argus set a $108.00 price target on Charles Schwab in a research note on Monday, April 20th. Truist Financial dropped their price target on Charles Schwab from $122.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Morgan Stanley dropped their price target on Charles Schwab from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $127.00 target price on shares of Charles Schwab in a research note on Friday, April 17th. Finally, Keefe, Bruyette & Woods initiated coverage on Charles Schwab in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.
Get Our Latest Research Report on SCHW
Insiders Place Their Bets
In other news, insider Nigel J. Murtagh sold 41,297 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $99.00, for a total value of $4,088,403.00. Following the completion of the sale, the insider directly owned 57,972 shares of the company’s stock, valued at $5,739,228. This trade represents a 41.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul V. Woolway sold 7,941 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $100.00, for a total value of $794,100.00. Following the completion of the sale, the insider directly owned 29,866 shares of the company’s stock, valued at $2,986,600. This represents a 21.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 126,924 shares of company stock valued at $12,268,634 over the last 90 days. 6.30% of the stock is owned by corporate insiders.
Charles Schwab Company Profile
Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.
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