Condor Capital Management Decreases Stake in The Charles Schwab Co. (NYSE:SCHW)

Condor Capital Management reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,352 shares of the financial services provider’s stock after selling 1,112 shares during the period. Condor Capital Management’s holdings in Charles Schwab were worth $4,615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Charles Schwab by 0.6% during the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after purchasing an additional 38,201 shares during the last quarter. United Bank lifted its position in shares of Charles Schwab by 13.0% during the third quarter. United Bank now owns 11,352 shares of the financial services provider’s stock worth $736,000 after purchasing an additional 1,309 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Charles Schwab by 6.2% during the third quarter. Empowered Funds LLC now owns 22,842 shares of the financial services provider’s stock worth $1,480,000 after purchasing an additional 1,343 shares during the last quarter. Quest Partners LLC bought a new position in shares of Charles Schwab during the third quarter worth about $270,000. Finally, Prospera Financial Services Inc lifted its position in shares of Charles Schwab by 45.9% during the third quarter. Prospera Financial Services Inc now owns 20,945 shares of the financial services provider’s stock worth $1,358,000 after purchasing an additional 6,590 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the sale, the insider now directly owns 47,931 shares of the company’s stock, valued at $3,613,038.78. This trade represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 501,087 shares of company stock worth $40,952,233 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 1.5 %

Charles Schwab stock opened at $78.72 on Thursday. The company has a 50 day moving average price of $78.76 and a 200 day moving average price of $74.60. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $142.76 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping 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 firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business posted $0.68 EPS. The company’s revenue was up 19.5% on a year-over-year basis. Research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.27 per share. 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 1.37%. The ex-dividend date was Friday, February 14th. Charles Schwab’s payout ratio is currently 36.12%.

Analyst Upgrades and Downgrades

SCHW has been the topic of several research analyst reports. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $89.00 to $93.00 in a research 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 research report on Tuesday, February 11th. JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Morgan Stanley increased their price objective on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, UBS Group increased their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $86.33.

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.