Parthenon LLC Trims Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Parthenon LLC lowered its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 139,880 shares of the financial services provider’s stock after selling 1,180 shares during the period. Charles Schwab comprises 1.3% of Parthenon LLC’s portfolio, making the stock its 26th largest position. Parthenon LLC’s holdings in Charles Schwab were worth $9,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted 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 buying an additional 6,195,934 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Charles Schwab by 3.3% in the 3rd 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 during the last quarter. Northern Trust Corp increased its position in Charles Schwab by 2.3% in the 3rd quarter. Northern Trust Corp now owns 15,550,474 shares of the financial services provider’s stock valued at $853,721,000 after acquiring an additional 356,112 shares during the period. Bamco Inc. NY increased its position in Charles Schwab by 0.5% in the 3rd quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock valued at $444,826,000 after acquiring an additional 42,588 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in 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 during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America raised their target price on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group reiterated a “neutral” rating and set a $71.00 price target (up from $70.00) on shares of Charles Schwab in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Piper Sandler lifted their price target on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.47.

Insider Transactions at Charles Schwab

In related news, Chairman Charles R. Schwab sold 89,275 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total value of $6,661,700.50. Following the completion of the sale, the chairman now owns 30,641,981 shares of the company’s stock, valued at $2,286,504,622.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of Charles Schwab stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the sale, the chairman now owns 30,641,981 shares of the company’s stock, valued at approximately $2,286,504,622.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan M. Craig sold 4,977 shares of Charles Schwab stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the sale, the insider now directly owns 81,446 shares of the company’s stock, valued at approximately $5,702,034.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 394,648 shares of company stock valued at $27,400,905. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW traded down $0.62 during mid-day trading on Tuesday, hitting $73.94. 6,725,134 shares of the stock were exchanged, compared to its average volume of 7,696,079. The company has a market cap of $131.32 billion, a P/E ratio of 30.94, a PEG ratio of 1.10 and a beta of 1.01. The stock’s fifty day simple moving average is $70.09 and its two-hundred day simple moving average is $64.33. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The Charles Schwab Co. has a twelve month low of $45.65 and a twelve month high of $75.55.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s payout ratio is 41.84%.

About Charles Schwab

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.