The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 23.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 679,477 shares of the financial services provider’s stock after selling 203,902 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Charles Schwab were worth $49,153,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Advisors LLC boosted its holdings in Charles Schwab by 8.7% in the third quarter. Legacy Advisors LLC now owns 5,256 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 421 shares during the period. JT Stratford LLC raised its position in Charles Schwab by 118.9% in the 3rd quarter. JT Stratford LLC now owns 8,722 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 4,738 shares in the last quarter. Scotia Capital Inc. boosted its stake in shares of Charles Schwab by 18.0% in the 3rd quarter. Scotia Capital Inc. now owns 61,878 shares of the financial services provider’s stock valued at $3,397,000 after buying an additional 9,424 shares during the period. Royal London Asset Management Ltd. grew its position in shares of Charles Schwab by 4.5% during the third quarter. Royal London Asset Management Ltd. now owns 1,160,674 shares of the financial services provider’s stock worth $63,738,000 after buying an additional 49,522 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its holdings in Charles Schwab by 2,236.2% in the third quarter. Industrial Alliance Investment Management Inc. now owns 8,013 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 7,670 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Charles Schwab news, insider Bernard J. Clark sold 77,431 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the completion of the transaction, the insider now owns 121,666 shares in the company, valued at approximately $8,630,986.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the transaction, the insider now directly owns 121,666 shares in the company, valued at $8,630,986.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Peter B. Crawford sold 5,481 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $75.51, for a total transaction of $413,870.31. Following the completion of the sale, the chief financial officer now owns 60,567 shares of the company’s stock, valued at approximately $4,573,414.17. The disclosure for this sale can be found here. Insiders sold a total of 658,663 shares of company stock valued at $48,997,146 over the last three months. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SCHW shares. Bank of America increased their price objective on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research report on Tuesday, April 16th. JMP Securities restated a “market outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft decreased their price target on Charles Schwab from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $76.00 price objective on shares of Charles Schwab in a report on Monday, June 17th. Finally, Barclays boosted their target price on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. 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, the stock has a consensus rating of “Hold” and a consensus target price of $75.56.

Charles Schwab Trading Down 0.1 %

NYSE SCHW opened at $74.08 on Thursday. The firm’s fifty day moving average is $74.38 and its two-hundred day moving average is $69.88. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. 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 PE ratio of 31.00, a P/E/G ratio of 1.15 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Analysts expect that The Charles Schwab Co. will post 3.25 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

About Charles Schwab

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.