AMI Asset Management Corp Sells 16,323 Shares of The Charles Schwab Co. (NYSE:SCHW)

AMI Asset Management Corp reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 746,395 shares of the financial services provider’s stock after selling 16,323 shares during the quarter. Charles Schwab comprises about 2.9% of AMI Asset Management Corp’s holdings, making the stock its 13th largest position. AMI Asset Management Corp’s holdings in Charles Schwab were worth $55,241,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Alliance Wealth Advisors LLC lifted its position in Charles Schwab by 2.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 142 shares during the period. Michael S. Ryan Inc. lifted its holdings in Charles Schwab by 2.5% in the fourth quarter. Michael S. Ryan Inc. now owns 5,998 shares of the financial services provider’s stock valued at $444,000 after buying an additional 144 shares during the period. GS Investments Inc. boosted its stake in Charles Schwab by 0.3% in the third quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock valued at $3,722,000 after acquiring an additional 146 shares during the last quarter. Relyea Zuckerberg Hanson LLC grew its holdings in Charles Schwab by 2.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 5,413 shares of the financial services provider’s stock worth $401,000 after acquiring an additional 148 shares during the period. Finally, Washington Trust Advisors Inc. raised its position in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Redburn Partners cut their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday. The Goldman Sachs Group boosted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Piper Sandler boosted 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. Two research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $81.41.

Charles Schwab Stock Up 1.4 %

SCHW stock opened at $76.53 on Tuesday. The business’s 50 day simple moving average is $77.65 and its 200 day simple moving average is $70.62. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.35. The firm has a market capitalization of $136.20 billion, a PE ratio of 29.90, a PEG ratio of 1.41 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.

Charles Schwab Dividend Announcement

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

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the sale, the director now directly owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,823 shares of company stock valued at $2,171,194 in the last three months. 6.60% of the stock is currently owned by company 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.