Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 91.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,421 shares of the financial services provider's stock after selling 148,750 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Charles Schwab were worth $993,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Prospera Private Wealth LLC purchased a new position in shares of Charles Schwab in the 3rd quarter worth about $31,000. Knuff & Co LLC increased its stake in Charles Schwab by 1,309.3% during the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 563 shares in the last quarter. Financial Life Planners bought a new position in shares of Charles Schwab in the fourth quarter worth approximately $46,000. Whipplewood Advisors LLC bought a new position in shares of Charles Schwab in the fourth quarter worth approximately $46,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

Shares of NYSE:SCHW traded up $1.68 during mid-day trading on Monday, reaching $80.07. 7,542,389 shares of the company traded hands, compared to its average volume of 8,445,041. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The firm has a market cap of $145.21 billion, a PE ratio of 26.78, a PEG ratio of 0.99 and a beta of 0.98. The company's 50 day moving average price is $78.99 and its 200-day moving average price is $74.87. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

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Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during the quarter, compared to analysts' expectations of $5.19 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.35%. Charles Schwab's dividend payout ratio is 36.12%.

Insider Buying and Selling

In other news, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the sale, the insider now owns 47,931 shares in the company, valued at $3,613,038.78. This trade represents a 17.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arun Sarin sold 8,548 shares of the company's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the transaction, the director now owns 18,617 shares of the company's stock, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 501,087 shares of company stock worth $40,952,233. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley upped their price objective on Charles Schwab from $84.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. JMP Securities reaffirmed a "market outperform" rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Wells Fargo & Company raised Charles Schwab from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Truist Financial lifted their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $86.33.

About Charles Schwab

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.