Whittier Trust Co. Cuts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Whittier Trust Co. trimmed its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 201,179 shares of the financial services provider's stock after selling 8,728 shares during the quarter. Whittier Trust Co.'s holdings in Charles Schwab were worth $14,889,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in 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 valued at $432,536,000 after purchasing an additional 38,201 shares during the last quarter. United Bank increased its holdings in shares of Charles Schwab by 13.0% during the third quarter. United Bank now owns 11,352 shares of the financial services provider's stock worth $736,000 after buying an additional 1,309 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Charles Schwab by 6.2% in the 3rd quarter. Empowered Funds LLC now owns 22,842 shares of the financial services provider's stock valued at $1,480,000 after acquiring an additional 1,343 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Charles Schwab during the 3rd quarter valued at $270,000. Finally, Prospera Financial Services Inc boosted its holdings in shares of Charles Schwab by 45.9% during the 3rd quarter. Prospera Financial Services Inc now owns 20,945 shares of the financial services provider's stock valued at $1,358,000 after acquiring an additional 6,590 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Charles Schwab Trading Up 2.1 %

Shares of NYSE:SCHW traded up $1.68 during mid-day trading on Monday, hitting $80.07. The company had a trading volume of 7,542,389 shares, compared to its average volume of 8,445,041. The company has a market capitalization of $145.21 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The firm has a fifty day moving average price of $79.14 and a 200 day moving average price of $74.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share 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 business's revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. As a group, research analysts forecast that The Charles Schwab Co. will post 4.22 EPS 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. This represents a $1.08 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's dividend payout ratio (DPR) is 36.12%.

Insider Activity

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the company's stock in a transaction dated 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 sale, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm's stock in a transaction dated 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 sold a total of 501,087 shares of company stock worth $40,952,233 over the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SCHW has been the subject of several research reports. Citigroup increased their target price on Charles Schwab from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. JMP Securities reissued a "market outperform" rating and set a $94.00 target price (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Truist Financial raised their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods raised their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research report on Friday, December 20th. Two 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 stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $86.33.

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.