Corebridge Financial Inc. Decreases Stake in The Charles Schwab Co. (NYSE:SCHW)

Corebridge Financial Inc. reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 384,431 shares of the financial services provider’s stock after selling 16,216 shares during the period. Corebridge Financial Inc.’s holdings in Charles Schwab were worth $28,452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SCHW. Atala Financial Inc acquired a new stake in Charles Schwab in the 4th quarter valued at about $41,000. Knuff & Co LLC raised its holdings in shares of Charles Schwab by 1,309.3% in the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 563 shares during the last quarter. Financial Life Planners purchased a new stake in shares of Charles Schwab in the fourth quarter valued at $46,000. Whipplewood Advisors LLC acquired a new stake in shares of Charles Schwab during the fourth quarter valued at $46,000. Finally, Heck Capital Advisors LLC purchased a new stake in Charles Schwab during the 4th quarter worth about $50,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SCHW shares. UBS Group raised their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Redburn Partners dropped their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research note on Friday, January 17th. Truist Financial raised their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Finally, Jefferies Financial Group upped their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Trading Down 0.1 %

SCHW opened at $78.47 on Monday. The firm has a market capitalization of $142.30 billion, a P/E ratio of 26.24, a P/E/G ratio of 0.99 and a beta of 0.98. The firm’s 50 day moving average is $78.99 and its 200-day moving average is $74.87. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. Analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Insider Activity at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 501,087 shares of company stock valued at $40,952,233 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Company 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.