Heron Bay Capital Management Sells 11,542 Shares of The Charles Schwab Co. (NYSE:SCHW)

Heron Bay Capital Management reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 258,872 shares of the financial services provider’s stock after selling 11,542 shares during the quarter. Charles Schwab makes up about 4.0% of Heron Bay Capital Management’s holdings, making the stock its 7th largest position. Heron Bay Capital Management’s holdings in Charles Schwab were worth $19,159,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 9,887 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the transaction, the insider now owns 47,931 shares of the company’s stock, valued at approximately $3,613,038.78. This trade represents a 17.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction that occurred on 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 a total of 501,087 shares of company stock worth $40,952,233 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of recent research reports. Redburn Partners cut their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. UBS Group boosted their price objective on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. JMP Securities restated a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and upped their price target for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Two 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, the stock currently has an average rating of “Hold” and an average target price of $86.33.

Charles Schwab Trading Down 0.1 %

Charles Schwab stock opened at $78.47 on Friday. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The firm’s 50 day moving average price is $78.99 and its two-hundred day moving average price is $74.79. The firm has a market cap of $142.30 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current 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, topping 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 company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the firm earned $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, research analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. Charles Schwab’s dividend payout ratio is currently 36.12%.

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.