Phoenix Financial Ltd. lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 94.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,288 shares of the financial services provider's stock after selling 92,223 shares during the quarter. Phoenix Financial Ltd.'s holdings in Charles Schwab were worth $391,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Merit Financial Group LLC grew its stake in Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider's stock valued at $2,483,000 after acquiring an additional 23,383 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider's stock valued at $4,400,000 after purchasing an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC acquired a new position in Charles Schwab during the fourth quarter worth $688,000. Golden State Equity Partners increased its stake in shares of Charles Schwab by 293.9% in the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider's stock worth $903,000 after acquiring an additional 9,108 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Charles Schwab by 7.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider's stock worth $47,674,000 after acquiring an additional 43,308 shares during the period. Hedge funds and other institutional investors own 84.38% of the company's stock.
Insider Activity at Charles Schwab
In other news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders have sold a total of 513,081 shares of company stock valued at $41,903,066 over the last 90 days. 6.60% of the stock is owned by corporate insiders.
Charles Schwab Stock Up 0.3 %
Charles Schwab stock traded up $0.23 during mid-day trading on Tuesday, reaching $77.15. 6,920,673 shares of the company's stock were exchanged, compared to its average volume of 9,252,388. The company has a fifty day moving average of $77.67 and a 200-day moving average of $76.32. The company has a market cap of $139.92 billion, a P/E ratio of 25.80, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50.
Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results 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. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the business posted $0.68 earnings per share. Charles Schwab's revenue was up 19.5% compared to the same quarter last year. Sell-side analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.
Charles Schwab Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.40%. 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. Charles Schwab's dividend payout ratio is presently 36.12%.
Analyst Ratings Changes
SCHW has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an "outperform" rating in a research report on Friday, December 20th. Citigroup upgraded Charles Schwab from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Truist Financial reduced their target price on Charles Schwab from $91.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Finally, JMP Securities cut their price objective on Charles Schwab from $96.00 to $94.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average target price of $85.33.
View Our Latest Stock Analysis on Charles Schwab
About Charles Schwab
(
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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