Pittenger & Anderson Inc. Sells 229 Shares of The Charles Schwab Co. (NYSE:SCHW)

Pittenger & Anderson Inc. lowered its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 52,440 shares of the financial services provider’s stock after selling 229 shares during the period. Pittenger & Anderson Inc.’s holdings in Charles Schwab were worth $3,881,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SCHW. Merit Financial Group LLC grew its holdings in Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after acquiring an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 5,937 shares during the last quarter. Synovus Financial Corp grew its holdings in Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after acquiring an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC bought a new stake in Charles Schwab in the 4th quarter worth $688,000. Finally, Golden State Equity Partners grew its holdings in Charles Schwab by 293.9% in the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after acquiring an additional 9,108 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 1.5 %

Shares of Charles Schwab stock opened at $80.32 on Monday. 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 stock has a market capitalization of $142.94 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The company has a 50-day simple moving average of $78.03 and a two-hundred day simple moving average of $72.45.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the business posted $0.68 earnings per share. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts anticipate that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.27 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s payout ratio is currently 33.44%.

Analyst Ratings Changes

A number of brokerages have issued reports on SCHW. Redburn Partners cut their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Citigroup raised their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Truist Financial raised their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley raised their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, 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 report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.56.

Insider Transactions at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the business’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 transaction of $699,397.36. Following the sale, the director now owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This trade represents a 31.47 % 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 over the last three months. 6.60% of the stock is currently owned by company insiders.

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.