Ninety One North America Inc. Sells 75,831 Shares of The Charles Schwab Co. (NYSE:SCHW)

Ninety One North America Inc. cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 10.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 666,228 shares of the financial services provider’s stock after selling 75,831 shares during the period. Charles Schwab accounts for about 2.2% of Ninety One North America Inc.’s portfolio, making the stock its 21st biggest position. Ninety One North America Inc.’s holdings in Charles Schwab were worth $45,836,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Charles Schwab in the 4th quarter worth about $1,325,555,000. Morgan Stanley grew its holdings in Charles Schwab by 62.5% during the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock valued at $1,853,005,000 after buying an additional 8,563,389 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Charles Schwab by 26.3% during the 3rd 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 buying an additional 6,195,934 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Charles Schwab by 91,051.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,365,193 shares of the financial services provider’s stock valued at $446,706,000 after buying an additional 5,359,307 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Charles Schwab by 186.2% during 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. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SCHW. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. TD Cowen boosted their target price on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler boosted their target price on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. JMP Securities restated a “market outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $74.47.

Insider Buying and Selling

In related news, Chairman Charles R. Schwab sold 71,226 shares of Charles Schwab stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.99, for a total value of $4,628,977.74. Following the completion of the sale, the chairman now directly owns 61,251,038 shares in the company, valued at approximately $3,980,704,959.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Charles R. Schwab sold 16,390 shares of Charles Schwab stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the transaction, the chairman now directly owns 61,331,688 shares of the company’s stock, valued at approximately $3,921,548,130.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 71,226 shares of Charles Schwab stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.99, for a total value of $4,628,977.74. Following the sale, the chairman now directly owns 61,251,038 shares in the company, valued at approximately $3,980,704,959.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,584 shares of company stock worth $14,200,769. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Up 1.1 %

SCHW traded up $0.80 during trading on Thursday, reaching $73.30. The stock had a trading volume of 3,377,991 shares, compared to its average volume of 7,689,125. The stock’s 50 day moving average is $68.17 and its two-hundred day moving average is $62.82. 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 company has a market capitalization of $130.19 billion, a price-to-earnings ratio of 30.89, a P/E/G ratio of 1.10 and a beta of 1.01. The Charles Schwab Co. has a one year low of $45.65 and a one year high of $73.88.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period last year, the company earned $1.07 earnings per share. The company’s revenue was down 18.9% on a year-over-year basis. As a group, analysts expect that The Charles Schwab Co. will post 3.41 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 annualized dividend and a yield of 1.36%. Charles Schwab’s payout ratio is 41.84%.

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.