The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,773,578 shares of the financial services provider’s stock after selling 66,851 shares during the quarter. Rhumbline Advisers owned approximately 0.16% of Charles Schwab worth $205,272,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Franklin Resources Inc. raised its position in shares of 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 purchasing an additional 3,157,923 shares during the period. Massachusetts Financial Services Co. MA increased its position in 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 buying an additional 1,711,312 shares during the period. AustralianSuper Pty Ltd increased its position in Charles Schwab by 2,617.6% in the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after buying an additional 1,644,931 shares during the period. KBC Group NV boosted its holdings in shares of Charles Schwab by 186.7% during the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock valued at $158,236,000 after acquiring an additional 1,392,255 shares during the period. Finally, Two Sigma Advisers LP bought a new position in shares of Charles Schwab during the third quarter worth about $86,845,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Down 1.5 %

Shares of NYSE:SCHW opened at $80.32 on Friday. 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 price-to-earnings ratio of 26.86, a PEG ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The company has a 50 day moving average price of $78.06 and a 200 day moving average price of $72.25.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. On average, research 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 disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.34%. 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. Charles Schwab’s payout ratio is presently 33.44%.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Piper Sandler boosted their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Jefferies Financial Group lifted their target price on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, UBS Group increased their price target on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.56.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction 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 in the company, valued at $1,481,838.69. This represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 512,143 shares of company stock valued at $41,917,493. 6.60% of the stock is currently owned by corporate 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.