Sumitomo Mitsui Trust Holdings Inc. Has $272.70 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in The Charles Schwab Co. (NYSE:SCHW) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,769,682 shares of the financial services provider’s stock after acquiring an additional 7,531 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.21% of Charles Schwab worth $272,699,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCHW. Investment Research & Advisory Group Inc. grew its stake in shares of Charles Schwab by 1.0% during the fourth 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 period. Morningstar Investment Services LLC raised its holdings in Charles Schwab by 98.0% in the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after purchasing an additional 2,322,156 shares during the period. Brown Advisory Inc. raised its holdings in Charles Schwab by 24.3% in the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock worth $302,254,000 after purchasing an additional 857,734 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Charles Schwab by 22.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after buying an additional 160,719 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of Charles Schwab by 13.0% in the 4th quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after buying an additional 152,967 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Down 0.1 %

Shares of SCHW opened at $74.08 on Thursday. The firm’s 50-day simple moving average is $74.38 and its 200 day simple moving average is $69.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $131.66 billion, a P/E ratio of 31.00, a price-to-earnings-growth ratio of 1.15 and a beta of 0.99. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts forecast that The Charles Schwab Co. will post 3.25 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. Charles Schwab’s payout ratio is presently 41.84%.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the transaction, the director now owns 570,657 shares in the company, valued at approximately $41,366,925.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the sale, the director now directly owns 570,657 shares of the company’s stock, valued at approximately $41,366,925.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Goldfarb sold 7,100 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $70.86, for a total transaction of $503,106.00. Following the sale, the director now directly owns 19,917 shares of the company’s stock, valued at approximately $1,411,318.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 658,663 shares of company stock worth $48,997,146. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SCHW shares. Bank of America boosted their target price on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research note on Tuesday, April 16th. Morgan Stanley raised their price objective 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 lowered their target price on Charles Schwab from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. StockNews.com lowered Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, TD Cowen decreased their price objective on Charles Schwab from $92.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.56.

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.