The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,989 shares of the financial services provider’s stock after selling 10,617 shares during the period. Charles Schwab makes up about 1.8% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 25th biggest position. Cornerstone Capital Inc.’s holdings in Charles Schwab were worth $16,305,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SCHW. Massachusetts Financial Services Co. MA grew its holdings in shares of Charles Schwab by 26.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after acquiring an additional 6,195,934 shares during the period. Ameriprise Financial Inc. lifted its stake in Charles Schwab by 186.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after buying an additional 4,624,302 shares in the last quarter. Van ECK Associates Corp lifted its stake in Charles Schwab by 134.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider’s stock valued at $290,986,000 after buying an additional 3,038,517 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Charles Schwab by 31.1% in the 3rd quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock valued at $397,877,000 after buying an additional 1,717,137 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Charles Schwab by 3,123.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider’s stock valued at $74,686,000 after buying an additional 1,318,203 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.1 %

Shares of NYSE SCHW opened at $74.99 on Friday. The Charles Schwab Co. has a 12-month low of $45.65 and a 12-month high of $75.55. The company has a market cap of $133.19 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.10 and a beta of 1.01. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The stock has a fifty day moving average price of $69.68 and a 200 day moving average price of $63.92.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.25 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.33%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Piper Sandler increased their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Barclays increased their price target 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. The Goldman Sachs Group reissued a “neutral” rating and set a $71.00 price target (up previously from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research note on Tuesday, April 16th. Finally, Citigroup increased their price target on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.47.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the sale, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total transaction of $587,610.00. Following the completion of the sale, the director now directly owns 585,057 shares in the company, valued at $38,198,371.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter B. Crawford sold 8,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.76, for a total value of $518,080.00. Following the sale, the chief financial officer now owns 29,611 shares of the company’s stock, valued at $1,917,608.36. The disclosure for this sale can be found here. In the last three months, insiders sold 394,648 shares of company stock worth $27,400,905. 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.