Mission Wealth Management LP Trims Position in The Charles Schwab Co. (NYSE:SCHW)

Mission Wealth Management LP lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,247 shares of the financial services provider’s stock after selling 278 shares during the period. Mission Wealth Management LP’s holdings in Charles Schwab were worth $462,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Washington Trust Advisors Inc. boosted its stake in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab in the third quarter worth about $25,000. Prospera Private Wealth LLC purchased a new stake in Charles Schwab during the third quarter valued at approximately $31,000. Planning Capital Management Corp purchased a new stake in shares of Charles Schwab in the third quarter worth approximately $33,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Charles Schwab in the third quarter worth approximately $35,000. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 3,380 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the sale, the insider now directly owns 57,818 shares of the company’s stock, valued at approximately $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold 491,200 shares of company stock worth $40,206,950 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 2.3 %

Shares of NYSE SCHW opened at $76.88 on Thursday. The business’s 50 day moving average is $78.49 and its two-hundred day moving average is $73.85. The firm has a market cap of $139.42 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 0.99 and a beta of 0.98. 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 Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW) last posted 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. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Research analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is presently 36.12%.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several research analyst reports. Citigroup increased their price objective on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Morgan Stanley increased their price objective on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. 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 note on Wednesday, January 22nd. Redburn Partners reduced their price objective 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. Finally, Wells Fargo & Company upgraded 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 research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.33.

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.