CMG Global Holdings LLC Sells 3,612 Shares of The Charles Schwab Co. (NYSE:SCHW)

CMG Global Holdings LLC reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 22.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,619 shares of the financial services provider’s stock after selling 3,612 shares during the quarter. CMG Global Holdings LLC’s holdings in Charles Schwab were worth $1,017,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. grew its stake in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Charles Schwab in the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new position in Charles Schwab in the 3rd quarter worth approximately $31,000. Future Financial Wealth Managment LLC bought a new stake in shares of Charles Schwab in the third quarter valued at approximately $32,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Charles Schwab in the 3rd quarter worth $33,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.9 %

Shares of SCHW opened at $83.59 on Friday. The company has a market capitalization of $148.76 billion, a P/E ratio of 27.96, a PEG ratio of 1.00 and a beta of 0.99. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $83.84. The business’s 50 day simple moving average is $77.89 and its 200-day simple moving average is $71.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating 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 analysts’ expectations of $5.19 billion. During the same quarter last year, the company posted $0.68 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, sell-side analysts predict that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.27 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is 33.44%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SCHW. Barclays increased their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” 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 report on Friday, January 17th. Morgan Stanley boosted their price objective on Charles Schwab from $74.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. JMP Securities reiterated 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. Finally, Bank of America dropped their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.11.

Insider Transactions at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now directly owns 18,617 shares in the company, 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. Insiders sold a total of 50,014 shares of company stock worth $4,052,281 over the last 90 days. 6.60% of the stock is owned by insiders.

Charles Schwab Company 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.