KBC Group NV Lowers Holdings in The Charles Schwab Corporation $SCHW

KBC Group NV trimmed its position in The Charles Schwab Corporation (NYSE:SCHW) by 38.9% in the 1st quarter, Holdings Channel reports. The firm owned 697,547 shares of the financial services provider’s stock after selling 443,176 shares during the quarter. KBC Group NV’s holdings in Charles Schwab were worth $65,556,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Charles Schwab by 1.0% in the third quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock worth $6,984,231,000 after purchasing an additional 691,671 shares during the period. Geode Capital Management LLC boosted its stake in Charles Schwab by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after buying an additional 98,242 shares during the period. Franklin Resources Inc. boosted its stake in Charles Schwab by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider’s stock valued at $3,015,720,000 after buying an additional 78,020 shares during the period. Primecap Management Co. CA grew its position in Charles Schwab by 9.7% during the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock worth $2,325,512,000 after buying an additional 2,066,884 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Charles Schwab by 0.8% in the 4th quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider’s stock worth $2,179,888,000 after acquiring an additional 171,926 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SCHW has been the topic of several recent analyst reports. Raymond James Financial raised their price target on Charles Schwab from $126.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Morgan Stanley upped their price objective on shares of Charles Schwab from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. BMO Capital Markets downgraded shares of Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 target price on the stock. in a research note on Monday. UBS Group raised their target price on shares of Charles Schwab from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $117.65.

Insider Buying and Selling

In other Charles Schwab news, Director Frank C. Herringer sold 2,520 shares of Charles Schwab stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $90.60, for a total transaction of $228,312.00. Following the transaction, the director directly owned 177,508 shares of the company’s stock, valued at approximately $16,082,224.80. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $100.01, for a total transaction of $200,020.00. Following the completion of the sale, the insider owned 13,738 shares of the company’s stock, valued at approximately $1,373,937.38. The trade was a 12.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,520 shares of company stock valued at $622,392 in the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

SCHW opened at $102.92 on Tuesday. The stock has a 50-day moving average price of $93.07 and a 200-day moving average price of $95.34. The Charles Schwab Corporation has a 12-month low of $83.96 and a 12-month high of $107.50. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $178.99 billion, a P/E ratio of 20.42, a PEG ratio of 0.85 and a beta of 0.77.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.32 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s payout ratio is presently 25.40%.

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.