Empower Advisory Group LLC Sells 2,021 Shares of The Charles Schwab Co. (NYSE:SCHW)

Empower Advisory Group LLC decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,327 shares of the financial services provider’s stock after selling 2,021 shares during the period. Empower Advisory Group LLC’s holdings in Charles Schwab were worth $12,680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp raised its stake in shares of Charles Schwab by 0.7% in the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after purchasing an additional 414,949 shares during the period. Geode Capital Management LLC raised its position in Charles Schwab by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after buying an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after acquiring an additional 1,711,312 shares in the last quarter. Franklin Resources Inc. boosted its position in Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after acquiring an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Charles Schwab by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after acquiring an additional 493,264 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial increased their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley raised their price objective on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. JMP Securities reiterated a “market outperform” rating and set a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Barclays upped their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler raised their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $84.56.

Charles Schwab Trading Down 1.5 %

Shares of NYSE:SCHW opened at $80.32 on Tuesday. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The stock has a market cap of $142.94 billion, a PE ratio of 26.86, a P/E/G ratio of 1.02 and a beta of 0.99. The business has a 50 day moving average of $78.03 and a 200-day moving average of $72.45. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. As a group, equities research 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 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. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio is 33.44%.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the 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 sale, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $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. Insiders sold 502,859 shares of company stock worth $41,161,496 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

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.