Oppenheimer & Co. Inc. Trims Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Oppenheimer & Co. Inc. lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,477 shares of the financial services provider’s stock after selling 8,831 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Charles Schwab were worth $6,770,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SCHW. Washington Trust Advisors Inc. lifted its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Charles Schwab in the third quarter valued at approximately $25,000. Prospera Private Wealth LLC acquired a new position in Charles Schwab during the third quarter worth $31,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Charles Schwab during the third quarter worth $33,000. Finally, Planning Capital Management Corp acquired a new stake in shares of Charles Schwab in the third quarter valued at $33,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SCHW has been the topic of several research reports. Jefferies Financial Group increased their target price on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Citigroup increased their price target on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $89.00 to $93.00 in a research note on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 target price (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Truist Financial raised their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $86.33.

Insider Activity at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction 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 in the company, valued at $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 487,820 shares of company stock valued at $39,938,849 in the last ninety days. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 0.2 %

Charles Schwab stock opened at $78.53 on Friday. The stock’s fifty day moving average is $78.27 and its two-hundred day moving average is $73.41. The stock has a market cap of $139.87 billion, a PE ratio of 26.26, a P/E/G ratio of 0.99 and a beta of 0.99. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. 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 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 expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.27 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is 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%.

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.