Hodges Capital Management Inc. Sells 3,269 Shares of The Charles Schwab Co. (NYSE:SCHW)

Hodges Capital Management Inc. lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,287 shares of the financial services provider’s stock after selling 3,269 shares during the quarter. Hodges Capital Management Inc.’s holdings in Charles Schwab were worth $1,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SCHW. Franklin Resources Inc. increased its stake in shares of Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares during the last quarter. AustralianSuper Pty Ltd lifted its stake in Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after acquiring an additional 1,644,931 shares during the period. KBC Group NV boosted its holdings in Charles Schwab by 186.7% in the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock worth $158,236,000 after purchasing an additional 1,392,255 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Charles Schwab in the third quarter worth $86,845,000. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In related news, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the sale, the director now directly owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This represents a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,014 shares of company stock valued at $4,052,281 over the last ninety days. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Performance

NYSE:SCHW opened at $82.76 on Tuesday. The company has a market cap of $147.28 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.01 and a beta of 0.99. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $83.84. The stock’s 50 day simple moving average is $77.97 and its two-hundred day simple moving average is $71.22. 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) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal 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 issued a $0.27 dividend. This is an increase 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 dividend yield of 1.30%. Charles Schwab’s dividend payout ratio (DPR) is presently 33.44%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Raymond James cut their target price on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Barclays raised 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. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Bank of America decreased their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $90.00 target price (up previously from $86.00) on shares of Charles Schwab in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $84.11.

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.