Hardman Johnston Global Advisors LLC Sells 93,200 Shares of The Charles Schwab Co. (NYSE:SCHW)

Hardman Johnston Global Advisors LLC reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 17.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 450,493 shares of the financial services provider’s stock after selling 93,200 shares during the period. Charles Schwab makes up 1.4% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 28th largest holding. Hardman Johnston Global Advisors LLC’s holdings in Charles Schwab were worth $33,341,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake in Charles Schwab by 7,559.9% in the 3rd quarter. International Assets Investment Management LLC now owns 889,779 shares of the financial services provider’s stock valued at $57,667,000 after buying an additional 878,163 shares during the last quarter. Joel Isaacson & Co. LLC increased its position in shares of Charles Schwab by 22.3% during the third quarter. Joel Isaacson & Co. LLC now owns 7,122 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 1,299 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in Charles Schwab by 20.6% during the third quarter. Arkadios Wealth Advisors now owns 10,765 shares of the financial services provider’s stock worth $698,000 after acquiring an additional 1,836 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Charles Schwab by 1.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 937,303 shares of the financial services provider’s stock worth $60,747,000 after purchasing an additional 9,799 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its stake in Charles Schwab by 3.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 64,077 shares of the financial services provider’s stock valued at $4,153,000 after purchasing an additional 2,402 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 487,820 shares of company stock valued at $39,938,849. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several research reports. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and increased their price target for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Jefferies Financial Group lifted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Piper Sandler increased their price target on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Stock Down 1.6 %

Shares of NYSE:SCHW opened at $80.50 on Monday. The firm has a market capitalization of $143.38 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99. 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 Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The firm has a fifty day moving average of $77.98 and a 200 day moving average of $73.10.

Charles Schwab (NYSE:SCHW) last announced 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 company had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. As a group, research analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed 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. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio is 36.12%.

Charles Schwab 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.