Principle Wealth Partners LLC Has $3.52 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Principle Wealth Partners LLC lessened its stake in The Charles Schwab Co. (NYSE:SCHW) by 0.9% in the fourth quarter, Holdings Channel reports. The firm owned 51,144 shares of the financial services provider’s stock after selling 468 shares during the quarter. Principle Wealth Partners LLC’s holdings in Charles Schwab were worth $3,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Providence Capital Advisors LLC bought a new position in Charles Schwab in the third quarter valued at about $28,000. Sugarloaf Wealth Management LLC grew its position in Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 165 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Charles Schwab in the fourth quarter valued at about $31,000. BluePath Capital Management LLC bought a new position in Charles Schwab in the third quarter valued at about $34,000. Finally, Hall Laurie J Trustee bought a new position in Charles Schwab in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SCHW. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Deutsche Bank Aktiengesellschaft boosted their price target on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Piper Sandler boosted their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. The Goldman Sachs Group restated a “neutral” rating and set a $71.00 price target (up from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Finally, TD Cowen boosted their price target on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.47.

Charles Schwab Stock Up 0.1 %

Shares of NYSE:SCHW traded up $0.10 during trading on Friday, reaching $74.99. 5,560,677 shares of the stock were exchanged, compared to its average volume of 7,173,721. 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 Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $75.55. The stock has a fifty day moving average of $69.68 and a two-hundred day moving average of $63.92. The firm has a market cap of $133.19 billion, a price-to-earnings ratio of 31.38, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s payout ratio is 41.84%.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 58,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $64.60, for a total transaction of $3,779,100.00. Following the transaction, the chairman now directly owns 61,192,538 shares of the company’s stock, valued at $3,953,037,954.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of Charles Schwab stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 58,500 shares of Charles Schwab stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $64.60, for a total value of $3,779,100.00. Following the transaction, the chairman now directly owns 61,192,538 shares of the company’s stock, valued at approximately $3,953,037,954.80. The disclosure for this sale can be found here. Insiders have sold 394,648 shares of company stock valued at $27,400,905 over the last ninety days. 6.60% of the stock is owned by company insiders.

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.