Sumitomo Life Insurance Co. Sells 829 Shares of The Charles Schwab Co. (NYSE:SCHW)

Sumitomo Life Insurance Co. lowered its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,765 shares of the financial services provider’s stock after selling 829 shares during the period. Sumitomo Life Insurance Co.’s holdings in Charles Schwab were worth $1,153,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Research & Advisory Group Inc. grew its holdings in shares of Charles Schwab by 1.0% during the 4th quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock valued at $4,058,000 after purchasing an additional 607 shares during the last quarter. Bamco Inc. NY grew its holdings 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 worth $444,826,000 after acquiring an additional 42,588 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Charles Schwab by 43.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider’s stock worth $30,287,000 after acquiring an additional 166,316 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Charles Schwab by 22.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock worth $60,776,000 after acquiring an additional 160,719 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its holdings in Charles Schwab by 6.1% in the 3rd quarter. 180 Wealth Advisors LLC now owns 32,214 shares of the financial services provider’s stock worth $1,769,000 after acquiring an additional 1,843 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock opened at $70.03 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The company’s 50-day simple moving average is $67.57 and its two-hundred day simple moving average is $62.50. The company has a market capitalization of $124.38 billion, a P/E ratio of 27.57, a P/E/G ratio of 1.06 and a beta of 1.01. The Charles Schwab Co. has a one year low of $45.65 and a one year high of $72.97.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.49 billion. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The company’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 EPS. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.4 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is 39.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $75.00 to $70.00 in a report on Thursday, January 18th. Piper Sandler raised their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday. TD Cowen raised shares of Charles Schwab from a “market perform” rating to an “outperform” rating and set a $87.00 target price for the company in a research report on Friday, March 22nd. Citigroup raised their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, JMP Securities raised their target price on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.53.

Insider Activity at Charles Schwab

In other news, CFO Peter B. Crawford sold 4,000 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total value of $257,960.00. Following the sale, the chief financial officer now directly owns 37,611 shares of the company’s stock, valued at approximately $2,425,533.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $70.87, for a total value of $637,830.00. Following the completion of the transaction, the director now owns 581,457 shares in the company, valued at $41,207,857.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Peter B. Crawford sold 4,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total value of $257,960.00. Following the transaction, the chief financial officer now owns 37,611 shares in the company, valued at approximately $2,425,533.39. The disclosure for this sale can be found here. Insiders have sold a total of 216,584 shares of company stock worth $14,200,769 over the last quarter. Insiders own 6.60% of the company’s stock.

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.