Lincoln Capital Corp Sells 2,326 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Lincoln Capital Corp reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,929 shares of the financial services provider’s stock after selling 2,326 shares during the period. Charles Schwab comprises 2.0% of Lincoln Capital Corp’s investment portfolio, making the stock its 17th largest holding. Lincoln Capital Corp’s holdings in Charles Schwab were worth $4,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Charles Schwab in the 4th quarter valued at approximately $1,289,544,000. Kovitz Investment Group Partners LLC increased its position in Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock valued at $814,545,000 after acquiring an additional 8,584,173 shares during the period. FMR LLC increased its position in Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock valued at $717,898,000 after acquiring an additional 3,974,940 shares during the period. Marshall Wace LLP increased its position in Charles Schwab by 742.0% in the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock valued at $309,451,000 after acquiring an additional 3,684,640 shares during the period. Finally, Primecap Management Co. CA increased its position in shares of Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after buying an additional 3,216,000 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Truist Financial lifted their target price on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Wells Fargo & Company lowered their target price on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Piper Sandler lifted their target price on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Finally, Citigroup upgraded Charles Schwab from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.40.

Charles Schwab Trading Up 1.4%

NYSE SCHW opened at $91.26 on Tuesday. The firm has a market capitalization of $165.82 billion, a P/E ratio of 27.65, a PEG ratio of 0.96 and a beta of 0.94. The business has a fifty day simple moving average of $86.42 and a 200 day simple moving average of $80.44. The Charles Schwab Corporation has a 12 month low of $61.01 and a 12 month high of $91.46. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period last year, the firm earned $0.74 earnings per share. On average, analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Friday, May 9th. Charles Schwab’s payout ratio is currently 32.73%.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 10,129 shares of Charles Schwab stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the sale, the insider owned 39,154 shares of the company’s stock, valued at approximately $3,524,251.54. The trade was a 20.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nigel J. Murtagh sold 20,872 shares of Charles Schwab stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the completion of the sale, the insider directly owned 58,999 shares in the company, valued at approximately $5,310,499.99. This represents a 26.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,615 shares of company stock valued at $10,231,607 over the last three months. Insiders own 6.30% of the company’s stock.

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.