The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Condor Capital Management

Condor Capital Management cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,352 shares of the financial services provider’s stock after selling 1,112 shares during the period. Condor Capital Management’s holdings in Charles Schwab were worth $4,615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SCHW. Principal Financial Group Inc. boosted its holdings in Charles Schwab by 0.6% in the third 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 period. United Bank lifted its holdings in Charles Schwab by 13.0% during the 3rd 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 during the last quarter. Empowered Funds LLC lifted its holdings in Charles Schwab by 6.2% during the 3rd quarter. Empowered Funds LLC now owns 22,842 shares of the financial services provider’s stock worth $1,480,000 after buying an additional 1,343 shares during the last quarter. Quest Partners LLC purchased a new stake in Charles Schwab during the 3rd quarter worth about $270,000. Finally, Prospera Financial Services Inc lifted its holdings in 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 worth $1,358,000 after buying an additional 6,590 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of SCHW opened at $78.72 on Thursday. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The stock’s 50 day moving average is $78.76 and its two-hundred day moving average is $74.60. The firm has a market capitalization of $142.76 billion, a PE ratio of 26.33, a P/E/G ratio of 0.99 and a beta of 0.98. 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) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the company earned $0.68 EPS. The company’s quarterly revenue was up 19.5% on a year-over-year basis. Research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.27 dividend. The ex-dividend date was 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 yield of 1.37%. Charles Schwab’s payout ratio is 36.12%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SCHW shares. Jefferies Financial Group lifted their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. UBS Group lifted their target price on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Citigroup lifted their target price on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and lifted their target price for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lifted their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.33.

Insider Buying and Selling at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was 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 of the company’s stock, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 501,087 shares of company stock worth $40,952,233. Insiders own 6.60% of the company’s stock.

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.