Skba Capital Management LLC Sells 30,400 Shares of The Charles Schwab Co. (NYSE:SCHW)

Skba Capital Management LLC lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 26.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,900 shares of the financial services provider's stock after selling 30,400 shares during the period. Skba Capital Management LLC's holdings in Charles Schwab were worth $6,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Charles Schwab by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider's stock worth $432,536,000 after purchasing an additional 38,201 shares in the last quarter. United Bank boosted its holdings in Charles Schwab by 13.0% in the third quarter. United Bank now owns 11,352 shares of the financial services provider's stock worth $736,000 after acquiring an additional 1,309 shares in the last quarter. Bridgewater Associates LP purchased a new stake in shares of Charles Schwab in the third quarter worth $1,754,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Charles Schwab by 141.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,099,801 shares of the financial services provider's stock valued at $71,278,000 after acquiring an additional 644,440 shares in the last quarter. Finally, Semmax Financial Advisors Inc. raised its position in shares of Charles Schwab by 17.1% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 67,307 shares of the financial services provider's stock worth $4,362,000 after purchasing an additional 9,839 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

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Charles Schwab Stock Performance

SCHW traded up $1.00 during midday trading on Wednesday, reaching $78.67. The company had a trading volume of 8,868,743 shares, compared to its average volume of 8,890,523. The business has a 50-day moving average of $79.52 and a two-hundred day moving average of $75.67. 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 1 year low of $61.01 and a 1 year high of $84.50. The company has a market cap of $142.67 billion, a P/E ratio of 26.31, a P/E/G ratio of 0.99 and a beta of 0.98.

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, 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 company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the company posted $0.68 EPS. The firm's revenue was up 19.5% on a year-over-year basis. As a group, equities research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal 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 is a boost from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. Charles Schwab's payout ratio is 36.12%.

Analysts Set New Price Targets

SCHW has been the subject of a number of analyst reports. Piper Sandler raised their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Barclays boosted their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. TD Cowen upgraded Charles Schwab from a "hold" rating to a "buy" rating and increased their target price for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Jefferies Financial Group upped their price target on Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $87.28.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 8,614 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $80.00, for a total transaction of $689,120.00. Following the completion of the transaction, the insider now owns 49,204 shares in the company, valued at approximately $3,936,320. This represents a 14.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 509,701 shares of company stock worth $41,641,353. Corporate insiders own 6.60% of the company's stock.

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.