The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Truist Financial Corp

Truist Financial Corp grew its position in The Charles Schwab Co. (NYSE:SCHW) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,901,708 shares of the financial services provider’s stock after buying an additional 59,361 shares during the quarter. Truist Financial Corp owned 0.11% of Charles Schwab worth $140,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SCHW. Franklin Resources Inc. boosted its holdings in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in 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 purchasing an additional 1,711,312 shares during the period. AustralianSuper Pty Ltd boosted its holdings in Charles Schwab by 2,617.6% in 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 purchasing an additional 1,644,931 shares during the period. KBC Group NV boosted its holdings in Charles Schwab by 186.7% in the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock valued at $158,236,000 after purchasing an additional 1,392,255 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in Charles Schwab in the third quarter valued at $86,845,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler lifted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Truist Financial lifted their price target on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Citigroup lifted their price target on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $84.56.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $80.32 on Monday. The stock has a market capitalization of $142.94 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The stock’s 50-day moving average price is $78.03 and its 200 day moving average price is $72.45. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. As a group, equities research analysts forecast that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.27 per share. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.34%. Charles Schwab’s payout ratio is presently 33.44%.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 value of $1,034,024.63. Following the transaction, the insider now owns 59,092 shares in the company, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 502,859 shares of company stock worth $41,161,496. Company 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.