Madison Asset Management LLC Sells 39,520 Shares of The Charles Schwab Corporation $SCHW

Madison Asset Management LLC lowered its position in The Charles Schwab Corporation (NYSE:SCHW) by 5.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 721,830 shares of the financial services provider’s stock after selling 39,520 shares during the quarter. Madison Asset Management LLC’s holdings in Charles Schwab were worth $67,838,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Puzo Michael J boosted its position in Charles Schwab by 19.5% during the first quarter. Puzo Michael J now owns 49,557 shares of the financial services provider’s stock worth $4,657,000 after purchasing an additional 8,072 shares during the period. Cassaday & Co Wealth Management LLC raised its position in shares of Charles Schwab by 21.7% in the first quarter. Cassaday & Co Wealth Management LLC now owns 8,160 shares of the financial services provider’s stock valued at $767,000 after purchasing an additional 1,457 shares during the period. Titan Global Capital Management USA LLC raised its position in shares of Charles Schwab by 0.5% in the first quarter. Titan Global Capital Management USA LLC now owns 283,500 shares of the financial services provider’s stock valued at $26,643,000 after purchasing an additional 1,536 shares during the period. Johnson Financial Group Inc. lifted its stake in shares of Charles Schwab by 9.9% during the 1st quarter. Johnson Financial Group Inc. now owns 12,025 shares of the financial services provider’s stock valued at $1,130,000 after buying an additional 1,080 shares in the last quarter. Finally, Element Pointe Advisors LLC bought a new position in Charles Schwab in the 1st quarter worth approximately $946,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on SCHW shares. Raymond James Financial lifted their price objective on shares of Charles Schwab from $126.00 to $137.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Truist Financial dropped their target price on Charles Schwab from $122.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. raised their price target on Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a research report on Thursday, June 18th. Finally, UBS Group boosted their price objective on Charles Schwab from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.65.

Charles Schwab Stock Performance

Charles Schwab stock opened at $102.92 on Tuesday. The firm’s 50 day simple moving average is $93.07 and its 200 day simple moving average is $95.34. 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 firm has a market capitalization of $178.99 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 0.85 and a beta of 0.77. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $107.50.

Charles Schwab Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Frank C. Herringer sold 2,520 shares of Charles Schwab stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total transaction of $228,312.00. Following the completion of the sale, the director 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $100.01, for a total value of $200,020.00. Following the transaction, 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 have sold a total of 6,520 shares of company stock valued at $622,392 over the last 90 days. Company insiders own 6.30% of the company’s stock.

About Charles Schwab

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.