Ameriprise Financial Inc. Has $836 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Ameriprise Financial Inc. trimmed its position in The Charles Schwab Corporation (NYSE:SCHW) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,162,235 shares of the financial services provider’s stock after selling 600,147 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.50% of Charles Schwab worth $836,003,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Charles Schwab by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after acquiring an additional 2,786,829 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Charles Schwab by 12.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after buying an additional 8,954,248 shares in the last quarter. State Street Corp raised its stake in Charles Schwab by 0.7% in the 2nd quarter. State Street Corp now owns 72,464,619 shares of the financial services provider’s stock worth $6,611,672,000 after purchasing an additional 531,329 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Charles Schwab by 2.9% during the second quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock worth $3,399,181,000 after purchasing an additional 1,038,376 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Charles Schwab by 2.8% in the 2nd quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock valued at $2,740,479,000 after acquiring an additional 815,625 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several analyst reports. Barclays reduced their price target on shares of Charles Schwab from $115.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, Truist Financial lifted their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.37.

Charles Schwab Trading Down 0.4%

Shares of SCHW stock opened at $96.63 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $171.71 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.81 and a beta of 0.96. The company has a 50-day simple moving average of $93.86 and a two-hundred day simple moving average of $93.40. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business’s revenue was up 26.6% on a year-over-year basis. Research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. The trade was a 8.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the sale, the insider owned 11,923 shares in the company, valued at $1,168,454. This represents a 20.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 6.30% 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.