Wealthfront Advisers LLC lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 93.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,861 shares of the financial services provider’s stock after selling 85,762 shares during the quarter. Wealthfront Advisers LLC’s holdings in Charles Schwab were worth $434,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in SCHW. Prospera Private Wealth LLC purchased a new position in shares of Charles Schwab in the third quarter valued at approximately $31,000. Peterson Financial Group Inc. purchased a new position in shares of Charles Schwab in the third quarter valued at approximately $35,000. Financial Life Planners purchased a new position in shares of Charles Schwab in the fourth quarter valued at approximately $46,000. Whipplewood Advisors LLC purchased a new position in shares of Charles Schwab in the fourth quarter valued at approximately $46,000. Finally, Heck Capital Advisors LLC acquired a new stake in Charles Schwab in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.
Insiders Place Their Bets
In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 501,087 shares of company stock worth $40,952,233. Corporate insiders own 6.60% of the company’s stock.
Charles Schwab Stock Performance
NYSE:SCHW opened at $77.28 on Monday. The firm’s fifty day moving average price is $78.47 and its 200 day moving average price is $74.39. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market cap of $140.15 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.
Charles Schwab (NYSE:SCHW – Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. On average, sell-side analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.
Charles Schwab Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.27 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s payout ratio is presently 36.12%.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and raised their target price for the company from $88.00 to $103.00 in a report on Tuesday, February 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Finally, UBS Group raised their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $86.33.
Check Out Our Latest Research Report on Charles Schwab
About Charles Schwab
(Free Report)
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.
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