Cornerstone Capital Inc. Has $14.81 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Cornerstone Capital Inc. reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 13.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,141 shares of the financial services provider’s stock after selling 31,965 shares during the period. Cornerstone Capital Inc.’s holdings in Charles Schwab were worth $14,812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC grew its holdings in Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 23,383 shares during the last quarter. Synovus Financial Corp grew its stake in Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after buying an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC acquired a new position in Charles Schwab during the 4th quarter worth $688,000. Golden State Equity Partners boosted its holdings in Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 9,108 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in shares of Charles Schwab by 7.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider’s stock valued at $47,674,000 after purchasing an additional 43,308 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the completion of the sale, the insider now owns 45,824 shares in the company, valued at $3,548,152.32. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 513,081 shares of company stock valued at $41,903,066. 6.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SCHW. JMP Securities lowered their target price on Charles Schwab from $96.00 to $94.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Piper Sandler increased their price target on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday. Keefe, Bruyette & Woods lowered their price objective on Charles Schwab from $93.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. restated an “outperform” rating and set a $92.00 target price on shares of Charles Schwab in a research report on Wednesday. JPMorgan analyst Kenneth Worthington reiterated an Overweight rating and $92 target. Ahead of earnings, he highlighted Schwab’s earnings model and positive impact of rising cash allocations. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.44.

Charles Schwab Stock Up 1.1 %

Shares of NYSE SCHW opened at $76.52 on Friday. The firm has a 50 day moving average price of $77.16 and a 200 day moving average price of $76.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market cap of $138.77 billion, a P/E ratio of 25.59, a P/E/G ratio of 0.99 and a beta of 0.91. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter in the prior year, the company earned $0.74 EPS. Analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is 36.12%.

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.