Mutual of America Capital Management LLC Decreases Holdings in The Charles Schwab Co. (NYSE:SCHW)

Mutual of America Capital Management LLC lowered its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 179,092 shares of the financial services provider’s stock after selling 4,872 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Charles Schwab were worth $13,255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its position in Charles Schwab by 0.7% in the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after acquiring an additional 414,949 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Charles Schwab by 1.5% during the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after purchasing an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Charles Schwab by 15.0% in 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 purchasing an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Charles Schwab by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after purchasing an additional 493,264 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Up 1.6 %

SCHW opened at $79.71 on Friday. 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 Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The stock has a market capitalization of $141.99 billion, a P/E ratio of 26.66, a P/E/G ratio of 0.99 and a beta of 0.99. The business has a 50 day simple moving average of $78.37 and a 200-day simple moving average of $73.54.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. On average, equities 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 disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued 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 yield of 1.35%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 36.12%.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were 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. Over the last three months, insiders sold 487,820 shares of company stock valued at $39,938,849. Corporate insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SCHW. UBS Group lifted their price target on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. 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. 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 research note on Tuesday, February 11th. Jefferies Financial Group lifted their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 target price (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $86.33.

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.