American Money Management LLC Reduces Holdings in The Charles Schwab Co. (NYSE:SCHW)

American Money Management LLC lowered its position in The Charles Schwab Co. (NYSE:SCHW) by 86.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,951 shares of the financial services provider’s stock after selling 68,298 shares during the quarter. American Money Management LLC’s holdings in Charles Schwab were worth $810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock worth $9,516,075,000 after purchasing an additional 1,187,384 shares in the last quarter. State Street Corp boosted its holdings in Charles Schwab by 0.7% in the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after buying an additional 414,949 shares during the period. Geode Capital Management LLC grew its stake in Charles Schwab by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after buying an additional 445,304 shares in the last quarter. Franklin Resources Inc. raised its holdings in Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Charles Schwab by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after acquiring an additional 265,708 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SCHW has been the subject of several recent research reports. Piper Sandler lifted their price target on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays lifted their target price on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Truist Financial increased their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Redburn Partners reduced their price objective on shares of 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, JMP Securities reiterated a “market outperform” rating and issued a $94.00 target price (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Two 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. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $86.33.

Insider Activity

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s 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 sale 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 firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 509,701 shares of company stock valued at $41,641,353. 6.60% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $77.79 on Friday. The stock’s 50-day moving average is $79.55 and its 200 day moving average is $75.36. The stock has a market cap of $141.08 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

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. 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 for the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the firm posted $0.68 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.39%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. 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.