Dorsey & Whitney Trust CO LLC Sells 12,112 Shares of The Charles Schwab Corporation $SCHW

Dorsey & Whitney Trust CO LLC lowered its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 11.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 90,201 shares of the financial services provider’s stock after selling 12,112 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Charles Schwab were worth $7,061,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SCHW. Vanguard Group Inc. grew its position in shares of Charles Schwab by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock worth $11,616,380,000 after buying an additional 19,817,022 shares in the last quarter. Northern Trust Corp grew its position in shares of Charles Schwab by 10.8% during the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider’s stock worth $1,365,227,000 after buying an additional 1,700,384 shares in the last quarter. Invesco Ltd. grew its position in shares of Charles Schwab by 5.0% during the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider’s stock worth $1,220,107,000 after buying an additional 743,906 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Charles Schwab by 595.7% during the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after buying an additional 13,262,309 shares in the last quarter. Finally, Primecap Management Co. CA grew its position in shares of Charles Schwab by 229.3% during the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock worth $1,096,083,000 after buying an additional 9,749,728 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the sale, the director directly owned 105,654 shares of the company’s stock, valued at $9,303,891.24. The trade was a 7.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan S. Beatty sold 2,850 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $87.57, for a total value of $249,574.50. Following the transaction, the insider directly owned 15,219 shares in the company, valued at $1,332,727.83. This trade represents a 15.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 260,516 shares of company stock valued at $25,139,583. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company set a $102.00 price target on Charles Schwab and gave the stock an “overweight” rating in a research report on Friday, July 18th. Piper Sandler raised their price objective on Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and raised their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Truist Financial raised their price objective on Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Finally, Barclays raised their price objective on Charles Schwab from $106.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.60.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $95.7530 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market cap of $173.81 billion, a PE ratio of 25.74, a P/E/G ratio of 0.92 and a beta of 0.96. The business has a 50-day simple moving average of $93.40 and a two-hundred day simple moving average of $85.09. The Charles Schwab Corporation has a fifty-two week low of $61.16 and a fifty-two week high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The firm had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its Board of Directors has approved a stock buyback plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

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.