Truist Financial Corp Sells 112,878 Shares of The Charles Schwab Co. (NYSE:SCHW)

Truist Financial Corp cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,300,872 shares of the financial services provider’s stock after selling 112,878 shares during the period. Truist Financial Corp’s holdings in Charles Schwab were worth $295,900,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC raised its position in shares of Charles Schwab by 60.0% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 165 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Charles Schwab during the 4th quarter worth approximately $31,000. Hall Laurie J Trustee acquired a new stake in shares of Charles Schwab during the 4th quarter worth approximately $34,000. Providence Capital Advisors LLC bought a new stake in shares of Charles Schwab in the 3rd quarter valued at $28,000. Finally, Glass Jacobson Investment Advisors llc lifted its position in shares of Charles Schwab by 81.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 268 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the subject of several research analyst reports. Raymond James decreased their price target on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, January 18th. Piper Sandler boosted their target price on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their price target on Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. 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. Finally, Keefe, Bruyette & Woods increased their target price on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average target price of $74.47.

Insider Activity at Charles Schwab

In other Charles Schwab news, CFO Peter B. Crawford sold 5,481 shares of Charles Schwab stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $75.51, for a total value of $413,870.31. Following the sale, the chief financial officer now owns 60,567 shares of the company’s stock, valued at $4,573,414.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Peter B. Crawford sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.76, for a total transaction of $518,080.00. Following the sale, the chief financial officer now owns 29,611 shares of the company’s stock, valued at approximately $1,917,608.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter B. Crawford sold 5,481 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $75.51, for a total transaction of $413,870.31. Following the completion of the transaction, the chief financial officer now directly owns 60,567 shares of the company’s stock, valued at $4,573,414.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 394,648 shares of company stock worth $27,400,905. 6.60% of the stock is owned by company insiders.

Charles Schwab Stock Performance

Charles Schwab stock traded up $0.10 during mid-day trading on Friday, reaching $74.99. 5,523,207 shares of the company’s stock were exchanged, compared to its average volume of 7,731,735. The firm has a market capitalization of $133.19 billion, a PE ratio of 31.38, a P/E/G ratio of 1.10 and a beta of 1.01. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The business’s fifty day simple moving average is $69.68 and its 200 day simple moving average is $63.84. The Charles Schwab Co. has a one year low of $45.65 and a one year high of $75.55.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is currently 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.