Cibc World Markets Corp Has $17.81 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Cibc World Markets Corp lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 240,659 shares of the financial services provider’s stock after selling 49,703 shares during the quarter. Cibc World Markets Corp’s holdings in Charles Schwab were worth $17,811,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gladstone Institutional Advisory LLC raised its position in shares of Charles Schwab by 2.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 124 shares during the period. N.E.W. Advisory Services LLC raised its holdings in Charles Schwab by 1.7% during the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider’s stock worth $557,000 after buying an additional 125 shares during the period. Klingman & Associates LLC lifted its stake in Charles Schwab by 3.2% in the fourth quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider’s stock valued at $302,000 after buying an additional 125 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of Charles Schwab by 2.7% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 127 shares in the last quarter. Finally, Personal CFO Solutions LLC increased its position in shares of Charles Schwab by 1.2% during the fourth quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider’s stock worth $832,000 after acquiring an additional 130 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SCHW. Truist Financial lifted their price target on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Redburn Partners cut their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Citigroup raised their price target on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. UBS Group increased their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.33.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 9,887 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the transaction, the insider now owns 47,931 shares of the company’s stock, valued at $3,613,038.78. The trade was a 17.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 501,087 shares of company stock worth $40,952,233 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock opened at $77.80 on Tuesday. The company has a market capitalization of $141.10 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 0.99 and a beta of 0.98. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The stock’s 50 day moving average is $78.54 and its 200-day moving average is $74.48.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities research analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.39%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 36.12%.

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.