Morningstar Investment Management LLC Cuts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Morningstar Investment Management LLC lowered its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 47.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,314 shares of the financial services provider's stock after selling 7,404 shares during the period. Morningstar Investment Management LLC's holdings in Charles Schwab were worth $615,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in Charles Schwab by 11.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 740,592 shares of the financial services provider's stock valued at $47,998,000 after buying an additional 78,712 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Charles Schwab by 4.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 20,730 shares of the financial services provider's stock valued at $1,343,000 after acquiring an additional 809 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in Charles Schwab by 32.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,010 shares of the financial services provider's stock worth $65,000 after acquiring an additional 246 shares during the period. Foundations Investment Advisors LLC lifted its stake in Charles Schwab by 5.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 23,528 shares of the financial services provider's stock worth $1,525,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Calton & Associates Inc. boosted its holdings in Charles Schwab by 17.3% in the 3rd quarter. Calton & Associates Inc. now owns 4,094 shares of the financial services provider's stock valued at $265,000 after purchasing an additional 605 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the company's stock in a transaction that occurred on 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 transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This 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 the SEC website. Also, Director Arun Sarin sold 8,548 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares of the company's stock, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 490,120 shares of company stock worth $40,127,472 over the last quarter. Corporate insiders own 6.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SCHW. Truist Financial boosted their target price on Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $87.00 to $93.00 and gave the company an "overweight" 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 boosted their price target for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Jefferies Financial Group raised their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $94.00 target price (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $86.33.

Charles Schwab Trading Down 1.6 %

NYSE:SCHW traded down $1.33 during midday trading on Friday, reaching $80.50. 6,270,729 shares of the stock traded hands, compared to its average volume of 12,271,535. The stock has a market capitalization of $143.38 billion, a P/E ratio of 26.92, 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 company has a fifty day moving average of $77.97 and a 200 day moving average of $72.83. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50.

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

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be 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 is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.34%. Charles Schwab's dividend payout ratio (DPR) is presently 36.12%.

Charles Schwab Company 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.