Legacy Capital Wealth Partners LLC Sells 370 Shares of The Charles Schwab Co. (NYSE:SCHW)

Legacy Capital Wealth Partners LLC cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,425 shares of the financial services provider’s stock after selling 370 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Charles Schwab were worth $511,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. 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 worth $1,634,700,000 after acquiring an additional 6,195,934 shares during the period. Invesco Ltd. increased its holdings in Charles Schwab by 3.3% in the third quarter. Invesco Ltd. now owns 15,560,924 shares of the financial services provider’s stock worth $854,295,000 after purchasing an additional 502,304 shares in the last quarter. Northern Trust Corp lifted its stake in Charles Schwab by 2.3% in the third quarter. Northern Trust Corp now owns 15,550,474 shares of the financial services provider’s stock valued at $853,721,000 after buying an additional 356,112 shares during the period. Bamco Inc. NY boosted its holdings in shares of Charles Schwab by 0.5% during the 3rd quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock worth $444,826,000 after buying an additional 42,588 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Charles Schwab by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,317,044 shares of the financial services provider’s stock valued at $401,706,000 after acquiring an additional 101,920 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 58,500 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $64.60, for a total value of $3,779,100.00. Following the completion of the transaction, the chairman now owns 61,192,538 shares in the company, valued at approximately $3,953,037,954.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Charles R. Schwab sold 89,275 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.62, for a total value of $6,661,700.50. Following the transaction, the chairman now owns 30,641,981 shares in the company, valued at $2,286,504,622.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 58,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $64.60, for a total value of $3,779,100.00. Following the completion of the sale, the chairman now directly owns 61,192,538 shares of the company’s stock, valued at $3,953,037,954.80. The disclosure for this sale can be found here. Insiders have sold 394,648 shares of company stock worth $27,400,905 in the last 90 days. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SCHW shares. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. JMP Securities restated a “market outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research note on Tuesday, April 16th. TD Cowen upped their price target on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Raymond James cut their price target on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, January 18th. Finally, Bank of America boosted their price objective on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a report on Tuesday, April 16th. Two investment 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 data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $74.47.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $74.99 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50-day moving average of $69.68 and a 200-day moving average of $64.01. The Charles Schwab Co. has a one year low of $45.65 and a one year 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.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid 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 (DPR) is 41.84%.

Charles Schwab 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.