CORDA Investment Management LLC. Sells 13,826 Shares of The Charles Schwab Co. (NYSE:SCHW)

CORDA Investment Management LLC. trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.2% in the 4th quarter, HoldingsChannel reports. The firm owned 616,604 shares of the financial services provider’s stock after selling 13,826 shares during the quarter. Charles Schwab makes up about 3.6% of CORDA Investment Management LLC.’s portfolio, making the stock its 5th biggest position. CORDA Investment Management LLC.’s holdings in Charles Schwab were worth $45,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SCHW. Merit Financial Group LLC raised its stake in Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 23,383 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after buying an additional 5,937 shares in the last quarter. Synovus Financial Corp raised its position in Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after buying an additional 21,377 shares during the period. Oregon Pacific Wealth Management LLC purchased a new stake in Charles Schwab in the 4th quarter worth about $688,000. Finally, Golden State Equity Partners boosted its position in Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after acquiring an additional 9,108 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Morgan Stanley lifted their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Truist Financial upped their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Citigroup lifted their price objective on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Trading Down 0.2 %

Shares of SCHW stock opened at $78.53 on Friday. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a market cap of $139.87 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $78.27 and its two-hundred day moving average is $73.41.

Charles Schwab (NYSE:SCHW) last posted 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 net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the business posted $0.68 EPS. Charles Schwab’s revenue was up 19.5% compared to the same quarter last year. Equities analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current 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 paid a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.38%. Charles Schwab’s dividend payout ratio is presently 36.12%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 487,820 shares of company stock valued at $39,938,849 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Charles Schwab Company 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.