LGT Fund Management Co Ltd. Cuts Stock Position in The Charles Schwab Co. (NYSE:SCHW)

LGT Fund Management Co Ltd. lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 29.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,504 shares of the financial services provider’s stock after selling 2,335 shares during the period. LGT Fund Management Co Ltd.’s holdings in Charles Schwab were worth $407,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SCHW. Farther Finance Advisors LLC lifted its holdings in shares of Charles Schwab by 2.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 27,350 shares of the financial services provider’s stock valued at $1,773,000 after acquiring an additional 751 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in Charles Schwab by 12.8% in the third quarter. Pure Financial Advisors LLC now owns 5,480 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 622 shares during the last quarter. BSW Wealth Partners lifted its stake in Charles Schwab by 29.8% in the third quarter. BSW Wealth Partners now owns 5,847 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 1,344 shares during the last quarter. TrueWealth Advisors LLC bought a new stake in Charles Schwab in the third quarter worth about $213,000. Finally, KG&L Capital Management LLC bought a new stake in Charles Schwab in the third quarter worth about $587,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction on 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 directly owns 18,617 shares of the company’s stock, valued at $1,523,242.94. The trade was a 31.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 487,820 shares of company stock valued at $39,938,849. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $78.08 on Tuesday. 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 50 day simple moving average of $78.44 and a 200-day simple moving average of $73.76. The firm has a market cap of $139.08 billion, a PE ratio of 26.11, a P/E/G ratio of 0.99 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. Charles Schwab’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.38%. Charles Schwab’s dividend payout ratio is 36.12%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SCHW shares. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Truist Financial upped their price target on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group upped their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upped their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, UBS Group upped their price target 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 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. According to MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average target price of $86.33.

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.