Allspring Global Investments Holdings LLC Has $54.01 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Allspring Global Investments Holdings LLC reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 731,447 shares of the financial services provider’s stock after selling 9,145 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Charles Schwab were worth $54,010,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SCHW. Exchange Traded Concepts LLC increased its holdings in Charles Schwab by 78.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 19,773 shares of the financial services provider’s stock valued at $1,281,000 after buying an additional 8,721 shares during the period. Procyon Advisors LLC increased its holdings in Charles Schwab by 5.4% in the 3rd quarter. Procyon Advisors LLC now owns 3,437 shares of the financial services provider’s stock valued at $222,000 after buying an additional 176 shares during the period. Creative Planning increased its holdings in Charles Schwab by 18.3% in the 3rd quarter. Creative Planning now owns 511,376 shares of the financial services provider’s stock valued at $31,891,000 after buying an additional 79,166 shares during the period. Swedbank AB increased its holdings in Charles Schwab by 3.7% in the 3rd quarter. Swedbank AB now owns 605,261 shares of the financial services provider’s stock valued at $39,227,000 after buying an additional 21,699 shares during the period. Finally, Sumitomo Life Insurance Co. increased its holdings in Charles Schwab by 2.8% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 14,666 shares of the financial services provider’s stock valued at $951,000 after buying an additional 396 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the transaction, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,514 shares of company stock valued at $3,859,731. 6.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SCHW. Truist Financial boosted their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday. Barclays boosted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Finally, 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 research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus target price of $84.56.

Charles Schwab Trading Down 0.8 %

SCHW opened at $81.64 on Friday. 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 stock has a market capitalization of $145.29 billion, a PE ratio of 27.30, a PEG ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The firm has a 50-day moving average price of $78.06 and a two-hundred day moving average price of $72.18.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is 33.44%.

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.