The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 64.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,781 shares of the financial services provider’s stock after selling 51,261 shares during the quarter. Guggenheim Capital LLC’s holdings in Charles Schwab were worth $2,056,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Charles Schwab by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock worth $9,516,075,000 after acquiring an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock worth $2,279,742,000 after purchasing an additional 760,043 shares during the last quarter. Franklin Resources Inc. boosted its position in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Charles Schwab by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after buying an additional 265,708 shares during the period. Finally, Norges Bank purchased a new position in Charles Schwab during the 4th quarter worth approximately $1,289,544,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity

In related news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 513,081 shares of company stock valued at $41,903,066. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SCHW shares. JMP Securities cut their price objective on shares of Charles Schwab from $96.00 to $94.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price objective for the company in a research report on Tuesday, April 8th. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and upped their price target for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Truist Financial decreased their target price on Charles Schwab from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and an average price target of $85.44.

Charles Schwab Stock Up 1.1 %

Shares of NYSE SCHW opened at $76.52 on Monday. The company has a market capitalization of $138.77 billion, a P/E ratio of 25.59, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a 50 day simple moving average of $77.16 and a 200-day simple moving average of $76.67. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same quarter last year, the firm earned $0.74 earnings per share. On average, equities research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

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.