Cutler Investment Counsel LLC cut its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,684 shares of the financial services provider's stock after selling 3,984 shares during the period. Charles Schwab makes up approximately 1.9% of Cutler Investment Counsel LLC's investment portfolio, making the stock its 16th biggest position. Cutler Investment Counsel LLC's holdings in Charles Schwab were worth $15,001,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Gladstone Institutional Advisory LLC lifted its position in shares of Charles Schwab by 2.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider's stock valued at $462,000 after acquiring an additional 124 shares in the last quarter. N.E.W. Advisory Services LLC lifted its position in shares of Charles Schwab by 1.7% in the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider's stock valued at $557,000 after acquiring an additional 125 shares in the last quarter. Stablepoint Partners LLC lifted its position in shares of Charles Schwab by 1.1% in the 4th quarter. Stablepoint Partners LLC now owns 12,486 shares of the financial services provider's stock valued at $924,000 after acquiring an additional 141 shares in the last quarter. Index Fund Advisors Inc. lifted its position in shares of Charles Schwab by 1.6% in the 4th quarter. Index Fund Advisors Inc. now owns 8,847 shares of the financial services provider's stock valued at $655,000 after acquiring an additional 143 shares in the last quarter. Finally, Michael S. Ryan Inc. lifted its position in shares of Charles Schwab by 2.5% in the 4th quarter. Michael S. Ryan Inc. now owns 5,998 shares of the financial services provider's stock valued at $444,000 after acquiring an additional 144 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have issued reports on SCHW. JMP Securities reiterated a "market outperform" rating and issued a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Morgan Stanley increased their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Jefferies Financial Group increased their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Truist Financial increased their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $86.33.
Check Out Our Latest Stock Report on SCHW
Charles Schwab Price Performance
Shares of NYSE SCHW traded down $0.13 during trading on Thursday, reaching $81.88. The company had a trading volume of 9,361,765 shares, compared to its average volume of 12,480,031. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The stock has a market cap of $145.84 billion, a PE ratio of 27.38, a PEG ratio of 0.99 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The business's 50 day moving average price is $77.98 and its 200-day moving average price is $72.76.
Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to analysts' expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. Analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.
Charles Schwab Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis 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 payout ratio is currently 36.12%.
Insider Transactions at Charles Schwab
In related news, Chairman Walter W. Bettinger sold 464,629 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 502,859 shares of company stock valued at $41,161,496 over the last 90 days. 6.60% of the stock is owned by corporate insiders.
Charles Schwab Company Profile
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Free Report)
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.
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