Truist Financial Corp Has $295.90 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Truist Financial Corp trimmed its stake in The Charles Schwab Co. (NYSE:SCHW) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,300,872 shares of the financial services provider’s stock after selling 112,878 shares during the period. Truist Financial Corp owned about 0.24% of Charles Schwab worth $295,900,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Charles Schwab by 26.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after purchasing an additional 6,195,934 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Charles Schwab by 3.3% during the 3rd quarter. Invesco Ltd. now owns 15,560,924 shares of the financial services provider’s stock worth $854,295,000 after acquiring an additional 502,304 shares during the period. Northern Trust Corp lifted its holdings in shares of Charles Schwab by 2.3% during the 3rd quarter. Northern Trust Corp now owns 15,550,474 shares of the financial services provider’s stock worth $853,721,000 after acquiring an additional 356,112 shares during the period. Bamco Inc. NY increased its stake in Charles Schwab by 0.5% in the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock valued at $444,826,000 after acquiring an additional 42,588 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Charles Schwab by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,317,044 shares of the financial services provider’s stock valued at $401,706,000 after acquiring an additional 101,920 shares during the period. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SCHW. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $71.00 price objective (up from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Barclays lifted their price objective on Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Piper Sandler lifted their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Raymond James reduced their price target on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, January 18th. Finally, Citigroup raised their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.47.

Insider Buying and Selling

In other news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total value of $1,771,079.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Peter J. Morgan III sold 24,520 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total value of $1,771,079.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 89,275 shares of Charles Schwab stock in a transaction that occurred on 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 transaction, the chairman now directly owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The disclosure for this sale can be found here. Insiders sold a total of 394,648 shares of company stock valued at $27,400,905 over the last ninety days. Insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 0.1 %

Shares of SCHW stock traded up $0.10 on Friday, reaching $74.99. 5,523,207 shares of the stock were exchanged, compared to its average volume of 7,731,735. The stock has a 50 day moving average price of $69.68 and a 200 day moving average price of $63.84. The stock has a market cap of $133.19 billion, a PE ratio of 31.38, a P/E/G ratio of 1.10 and a beta of 1.01. The Charles Schwab Co. has a one year low of $45.65 and a one year high of $75.55. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43.

Charles Schwab Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio is 41.84%.

Charles Schwab Company 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.