HighPoint Advisor Group LLC Reduces Holdings in The Charles Schwab Co. (NYSE:SCHW)

HighPoint Advisor Group LLC lessened its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 34,391 shares of the financial services provider’s stock after selling 2,224 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Charles Schwab were worth $2,545,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SCHW. Merit Financial Group LLC lifted its stake in shares of Charles Schwab by 230.1% in 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 last quarter. Benjamin Edwards Inc. lifted its position in Charles Schwab by 2,840.7% in 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 during the last quarter. Synovus Financial Corp boosted its stake 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 worth $4,400,000 after buying an additional 21,377 shares during the period. Oregon Pacific Wealth Management LLC acquired a new stake in shares of Charles Schwab during the fourth quarter valued at about $688,000. Finally, Golden State Equity Partners lifted its holdings in shares of Charles Schwab by 293.9% in 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 last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related news, 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 transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul V. Woolway sold 8,614 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $80.00, for a total value of $689,120.00. Following the completion of the sale, the insider now owns 49,204 shares of the company’s stock, valued at approximately $3,936,320. This represents a 14.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 509,701 shares of company stock valued at $41,641,353 in the last ninety days. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $78.38 on Tuesday. The firm has a market capitalization of $142.15 billion, a PE ratio of 26.21, 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 current ratio of 0.47 and a quick ratio of 0.47. The business’s fifty day moving average price is $79.58 and its 200 day moving average price is $75.56. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50.

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

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.38%. Charles Schwab’s dividend payout ratio is presently 36.12%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley boosted 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. Redburn Partners lowered their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. JMP Securities reiterated a “market outperform” rating and set a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.