The Charles Schwab Co. (NYSE:SCHW) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,795,392 shares of the financial services provider's stock after selling 39,233 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.10% of Charles Schwab worth $131,064,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Charles Schwab during the 4th quarter worth about $38,000. Atala Financial Inc acquired a new stake in shares of Charles Schwab during the fourth quarter valued at about $41,000. Knuff & Co LLC raised its stake in shares of Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 563 shares during the period. Financial Life Planners purchased a new position in shares of Charles Schwab during the 4th quarter worth approximately $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in Charles Schwab in the 4th quarter valued at approximately $46,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 3.2 %

SCHW stock traded down $2.53 during midday trading on Thursday, reaching $76.06. 6,582,937 shares of the company were exchanged, compared to its average volume of 8,896,067. The company has a market cap of $137.94 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. 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 Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The stock's 50-day simple moving average is $79.48 and its 200 day simple moving average is $75.69.

Remove Ads

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share 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%. Charles Schwab's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. On average, equities analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.42%. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's payout ratio is currently 36.12%.

Insider Activity

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction on 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 completion of the sale, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, the insider now owns 57,818 shares of the company's stock, valued at approximately $4,586,123.76. The trade was a 5.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 513,081 shares of company stock valued at $41,903,066. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SCHW. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research report on Friday, December 20th. UBS Group raised their target price on Charles Schwab from $90.00 to $95.00 and gave the company a "buy" rating in a report on Monday, January 27th. Piper Sandler boosted their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Wells Fargo & Company raised shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Finally, Barclays upped their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $87.28.

Charles Schwab 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.