The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Gray Wealth Management Inc.

Gray Wealth Management Inc. cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,962 shares of the financial services provider’s stock after selling 375 shares during the period. Gray Wealth Management Inc.’s holdings in Charles Schwab were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Signature Wealth Management Group increased its holdings in Charles Schwab by 2.7% in the 4th quarter. Signature Wealth Management Group now owns 24,974 shares of the financial services provider’s stock worth $1,848,000 after acquiring an additional 666 shares in the last quarter. GWN Securities Inc. acquired a new stake in shares of Charles Schwab in the fourth quarter valued at about $444,000. Glenview Trust co increased its stake in shares of Charles Schwab by 0.3% during the fourth quarter. Glenview Trust co now owns 103,034 shares of the financial services provider’s stock worth $7,626,000 after purchasing an additional 358 shares in the last quarter. Patten & Patten Inc. TN raised its position in shares of Charles Schwab by 1.7% during the 4th quarter. Patten & Patten Inc. TN now owns 105,973 shares of the financial services provider’s stock worth $7,843,000 after purchasing an additional 1,805 shares during the last quarter. Finally, Harbour Investments Inc. lifted its stake in Charles Schwab by 2.7% in the 4th quarter. Harbour Investments Inc. now owns 7,818 shares of the financial services provider’s stock valued at $579,000 after buying an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $77.28 on Monday. The stock has a market cap of $140.15 billion, a PE ratio of 25.85, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The stock has a fifty day simple moving average of $78.47 and a 200-day simple moving average of $74.39. 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 announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.40%. Charles Schwab’s payout ratio is presently 36.12%.

Analyst Ratings Changes

A number of brokerages have commented on SCHW. Truist Financial increased their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Redburn Partners lowered their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. 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 stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $86.33.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the transaction, the director now directly owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 501,087 shares of company stock worth $40,952,233. 6.60% of the stock is currently owned by company insiders.

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.