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

Madison Asset Management LLC lessened its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 5.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 721,830 shares of the financial services provider’s stock after selling 39,520 shares during the period. Madison Asset Management LLC’s holdings in Charles Schwab were worth $67,838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brookwood Investment Group LLC grew its holdings in Charles Schwab by 192.6% during the fourth quarter. Brookwood Investment Group LLC now owns 12,236 shares of the financial services provider’s stock worth $1,222,000 after buying an additional 8,054 shares in the last quarter. Juno Financial Group LLC purchased a new stake in Charles Schwab in the 4th quarter valued at $2,591,000. Swiss Life Asset Management Ltd lifted its stake in Charles Schwab by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 407,179 shares of the financial services provider’s stock valued at $40,681,000 after acquiring an additional 16,482 shares in the last quarter. Geode Capital Management LLC lifted its stake in Charles Schwab by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after acquiring an additional 98,242 shares in the last quarter. Finally, Busey Bank boosted its holdings in Charles Schwab by 15.5% during the 4th quarter. Busey Bank now owns 258,962 shares of the financial services provider’s stock worth $25,873,000 after acquiring an additional 34,745 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Transactions at Charles Schwab

In other news, Director Frank C. Herringer sold 2,520 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $90.60, for a total transaction of $228,312.00. Following the completion of the transaction, the director directly owned 177,508 shares of the company’s stock, valued at $16,082,224.80. This represents a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $100.01, for a total transaction of $200,020.00. Following the sale, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,520 shares of company stock valued at $622,392 in the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Zacks Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $128.00 price objective on shares of Charles Schwab in a research report on Friday, May 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a research note on Thursday, June 18th. Finally, Morgan Stanley lifted their target price on shares of Charles Schwab from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and an average price target of $117.65.

Charles Schwab Trading Up 1.3%

Shares of Charles Schwab stock opened at $102.92 on Tuesday. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $107.50. The firm has a market cap of $178.99 billion, a PE ratio of 20.42, a P/E/G ratio of 0.85 and a beta of 0.77. The stock has a fifty day moving average price of $93.07 and a 200-day moving average price of $95.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62.

Charles Schwab Dividend Announcement

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

Charles Schwab Company Profile

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.