DAVENPORT & Co LLC Has $19.89 Million Stock Position in The Charles Schwab Corporation $SCHW

DAVENPORT & Co LLC reduced its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 6.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 198,886 shares of the financial services provider’s stock after selling 13,325 shares during the period. DAVENPORT & Co LLC’s holdings in Charles Schwab were worth $19,891,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SCHW. Norges Bank bought a new position in Charles Schwab in the second quarter valued at about $1,889,858,000. Brown Advisory Inc. boosted its stake in shares of Charles Schwab by 88.4% in the 2nd quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock valued at $1,109,687,000 after purchasing an additional 5,708,208 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Charles Schwab by 11.4% in the 3rd quarter. Primecap Management Co. CA now owns 21,209,187 shares of the financial services provider’s stock valued at $2,024,841,000 after purchasing an additional 2,174,381 shares in the last quarter. Mondrian Investment Partners LTD bought a new stake in shares of Charles Schwab during the 3rd quarter valued at approximately $169,104,000. Finally, First Trust Advisors LP increased its position in Charles Schwab by 292.7% during the 3rd quarter. First Trust Advisors LP now owns 2,206,320 shares of the financial services provider’s stock worth $210,637,000 after purchasing an additional 1,644,503 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SCHW. UBS Group increased their price objective on shares of Charles Schwab from $123.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Truist Financial boosted their target price on shares of Charles Schwab from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Wolfe Research set a $120.00 price target on shares of Charles Schwab in a report on Monday, January 12th. Raymond James Financial reiterated an “outperform” rating and issued a $114.00 price target on shares of Charles Schwab in a research note on Monday, January 5th. Finally, Morgan Stanley boosted their price objective on Charles Schwab from $139.00 to $148.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and an average target price of $115.95.

Charles Schwab Stock Down 0.6%

NYSE:SCHW opened at $95.08 on Thursday. The Charles Schwab Corporation has a one year low of $65.88 and a one year high of $107.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market cap of $166.60 billion, a PE ratio of 20.40, a P/E/G ratio of 0.77 and a beta of 0.93. The firm’s 50 day simple moving average is $97.77 and its 200 day simple moving average is $96.25.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.07. The firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Charles Schwab had a net margin of 37.01% and a return on equity of 21.97%. The company’s revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. Charles Schwab has set its FY 2026 guidance at 5.700-5.800 EPS. On average, research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.32 dividend. The ex-dividend date was Friday, February 13th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.27. This represents a $1.28 dividend on an annualized basis and a yield of 1.3%. Charles Schwab’s dividend payout ratio (DPR) is currently 27.47%.

Insiders Place Their Bets

In related news, Director Christopher V. Dodds sold 11,825 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $104.55, for a total transaction of $1,236,303.75. Following the completion of the transaction, the director directly owned 449,406 shares of the company’s stock, valued at $46,985,397.30. This trade represents a 2.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dennis Howard sold 10,108 shares of Charles Schwab stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $94.60, for a total value of $956,216.80. Following the transaction, the insider directly owned 10,470 shares in the company, valued at $990,462. The trade was a 49.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 413,568 shares of company stock valued at $42,435,038 over the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

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.