The Charles Schwab Co. (NYSE:SCHW) Shares Sold by City Holding Co.

City Holding Co. lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 20.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,470 shares of the financial services provider’s stock after selling 5,069 shares during the quarter. City Holding Co.’s holdings in Charles Schwab were worth $1,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SCHW. Franklin Resources Inc. grew its position in Charles Schwab by 15.0% in the 3rd 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 in the last quarter. Darsana Capital Partners LP lifted its stake in shares of Charles Schwab by 200.0% in the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after acquiring an additional 2,000,000 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after acquiring an additional 1,711,312 shares in the last quarter. AustralianSuper Pty Ltd increased its stake in shares of Charles Schwab by 2,617.6% during the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after acquiring an additional 1,644,931 shares during the period. Finally, Two Sigma Advisers LP bought a new stake in Charles Schwab during the third quarter worth approximately $86,845,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.4 %

NYSE:SCHW opened at $76.53 on Monday. The business’s fifty day moving average price is $77.68 and its 200 day moving average price is $70.63. The firm has a market capitalization of $136.20 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.19 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.35.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. Charles Schwab’s dividend payout ratio is 39.06%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SCHW. Cowen lifted their price target on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Piper Sandler upped their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Barclays raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $74.00 to $95.00 in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of “Hold” and a consensus price target of $81.41.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the sale, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,823 shares of company stock valued at $2,171,194 over the last three months. 6.60% of the stock is owned by corporate insiders.

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.