The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Clearstead Trust LLC

Clearstead Trust LLC increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 496.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,519 shares of the financial services provider’s stock after purchasing an additional 4,594 shares during the quarter. Clearstead Trust LLC’s holdings in Charles Schwab were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SCHW. Massachusetts Financial Services Co. MA lifted its holdings in Charles Schwab by 26.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after acquiring an additional 6,195,934 shares during the period. Ameriprise Financial Inc. lifted its holdings in Charles Schwab by 186.2% in the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after acquiring an additional 4,624,302 shares during the period. Van ECK Associates Corp increased its position in shares of Charles Schwab by 134.3% in the third 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 increased its position in shares of Charles Schwab by 31.1% in the third 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 increased its position in Charles Schwab by 3,123.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider’s stock worth $74,686,000 after purchasing an additional 1,318,203 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 59,906 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $74.78, for a total value of $4,479,770.68. Following the completion of the sale, the chairman now owns 61,038,701 shares of the company’s stock, valued at approximately $4,564,474,060.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, insider Jonathan M. Craig sold 4,977 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $70.01, for a total value of $348,439.77. Following the completion of the transaction, the insider now owns 81,446 shares in the company, valued at approximately $5,702,034.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 59,906 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $74.78, for a total transaction of $4,479,770.68. Following the completion of the transaction, the chairman now owns 61,038,701 shares of the company’s stock, valued at approximately $4,564,474,060.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 514,459 shares of company stock valued at $36,371,155. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.9 %

Shares of SCHW traded up $0.71 during midday trading on Friday, hitting $76.04. The company had a trading volume of 5,414,735 shares, compared to its average volume of 7,577,556. The company’s 50 day moving average price is $70.75 and its 200 day moving average price is $64.80. The stock has a market cap of $135.05 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 1.11 and a beta of 0.98. The Charles Schwab Co. has a 52 week low of $45.65 and a 52 week high of $76.47. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s payout ratio is currently 41.84%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SCHW. Citigroup increased their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Barclays upped their price objective on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Finally, Piper Sandler upped their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.47.

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.