TCW Group Inc. Sells 13,253 Shares of The Charles Schwab Co. (NYSE:SCHW)

TCW Group Inc. decreased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 26.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 37,321 shares of the financial services provider’s stock after selling 13,253 shares during the quarter. TCW Group Inc.’s holdings in Charles Schwab were worth $2,762,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC boosted its holdings in Charles Schwab by 230.1% in the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Charles Schwab by 2,840.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 5,937 shares during the period. Synovus Financial Corp boosted its stake in shares of Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after purchasing an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC acquired a new stake in shares of Charles Schwab during the 4th quarter worth approximately $688,000. Finally, Golden State Equity Partners raised its stake in shares of Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after buying an additional 9,108 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Activity at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 487,820 shares of company stock valued at $39,938,849. Corporate insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. UBS Group lifted their price objective on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Piper Sandler upped their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley raised their target price on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Redburn Partners lowered their price target on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Stock Performance

SCHW opened at $80.50 on Monday. The company has a market capitalization of $143.38 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 0.99 and a beta of 0.99. The business’s 50-day moving average price is $77.98 and its two-hundred day moving average price is $73.10. 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.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $0.68 EPS. Charles Schwab’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.27 per share. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.34%. Charles Schwab’s dividend payout ratio is presently 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.