The Charles Schwab Corporation $SCHW Shares Sold by CORDA Investment Management LLC.

CORDA Investment Management LLC. reduced its stake in The Charles Schwab Corporation (NYSE:SCHW) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 583,938 shares of the financial services provider’s stock after selling 12,728 shares during the period. Charles Schwab comprises approximately 3.9% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 4th largest position. CORDA Investment Management LLC.’s holdings in Charles Schwab were worth $55,749,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ZWJ Investment Counsel Inc. boosted its position in Charles Schwab by 4.6% in the third quarter. ZWJ Investment Counsel Inc. now owns 2,390 shares of the financial services provider’s stock valued at $228,000 after buying an additional 106 shares in the last quarter. Bryn Mawr Trust Advisors LLC lifted its stake in shares of Charles Schwab by 2.0% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 5,489 shares of the financial services provider’s stock valued at $501,000 after acquiring an additional 107 shares during the last quarter. Nicolet Bankshares Inc. boosted its holdings in shares of Charles Schwab by 0.8% during the 2nd quarter. Nicolet Bankshares Inc. now owns 13,049 shares of the financial services provider’s stock valued at $1,191,000 after acquiring an additional 107 shares in the last quarter. First PREMIER Bank grew its position in Charles Schwab by 23.8% during the 3rd quarter. First PREMIER Bank now owns 557 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 107 shares during the last quarter. Finally, Harfst & Associates Inc. grew its position in Charles Schwab by 0.3% during the 3rd quarter. Harfst & Associates Inc. now owns 33,724 shares of the financial services provider’s stock worth $3,220,000 after acquiring an additional 107 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SCHW shares. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Bank of America raised their price objective on shares of Charles Schwab from $88.00 to $91.00 and gave the company an “underperform” rating in a report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Charles Schwab from $139.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Finally, Truist Financial lifted their price target on shares of Charles Schwab from $113.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $111.25.

Insider Activity

In related news, insider Jonathan S. Beatty sold 3,072 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the sale, the insider owned 11,923 shares in the company, valued at $1,168,454. This represents a 20.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Stock Down 1.1%

Charles Schwab stock opened at $100.19 on Friday. The firm has a market cap of $178.03 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 0.70 and a beta of 0.94. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $104.76. 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 firm has a 50 day moving average price of $96.33 and a two-hundred day moving average price of $95.10.

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 net margin of 35.93% and a return on equity of 21.02%. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the company posted $0.71 earnings per share. Charles Schwab’s revenue for the quarter was up 26.6% compared to the same quarter last year. Equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, November 14th. Charles Schwab’s payout ratio is currently 25.29%.

Charles Schwab Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.