Rhumbline Advisers Sells 66,851 Shares of The Charles Schwab Co. (NYSE:SCHW)

Rhumbline Advisers trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,773,578 shares of the financial services provider's stock after selling 66,851 shares during the quarter. Rhumbline Advisers owned approximately 0.16% of Charles Schwab worth $205,272,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. increased its position in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider's stock worth $25,000 after purchasing an additional 149 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Charles Schwab in the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC acquired a new position in Charles Schwab in the 3rd quarter valued at approximately $31,000. Hazlett Burt & Watson Inc. acquired a new position in Charles Schwab in the 3rd quarter valued at approximately $33,000. Finally, Planning Capital Management Corp acquired a new position in Charles Schwab in the 3rd quarter valued at approximately $33,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction 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. The trade was a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 502,859 shares of company stock valued at $41,161,496. Corporate insiders own 6.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SCHW. Truist Financial upped their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. UBS Group upped their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective 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. Finally, Barclays increased their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $86.33.

Charles Schwab Stock Up 1.4 %

NYSE SCHW traded up $1.15 on Tuesday, hitting $81.49. 9,763,609 shares of the company were exchanged, compared to its average volume of 12,695,886. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a market cap of $145.02 billion, a PE ratio of 27.25, a PEG ratio of 1.02 and a beta of 0.99. The stock has a fifty day moving average of $78.01 and a 200-day moving average of $72.57. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data 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. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the firm earned $0.68 earnings per share. The business's quarterly revenue was up 19.5% compared to the same quarter last year. As a group, analysts forecast that The Charles Schwab Co. will post 4.18 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. Shareholders of record on Friday, February 14th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.33%. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. Charles Schwab's dividend payout ratio (DPR) is 33.44%.

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.