Parallel Advisors LLC Sells 3,805 Shares of The Charles Schwab Co. (NYSE:SCHW)

Parallel Advisors LLC reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 9.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,993 shares of the financial services provider’s stock after selling 3,805 shares during the quarter. Parallel Advisors LLC’s holdings in Charles Schwab were worth $2,664,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Signature Wealth Management Group grew its position in Charles Schwab by 2.7% during the fourth quarter. Signature Wealth Management Group now owns 24,974 shares of the financial services provider’s stock worth $1,848,000 after buying an additional 666 shares in the last quarter. GWN Securities Inc. bought a new stake in shares of Charles Schwab during the 4th quarter valued at about $444,000. Glenview Trust co grew its holdings 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 increased its position in shares of Charles Schwab by 1.7% in the fourth 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. raised its stake in Charles Schwab by 2.7% in the fourth quarter. Harbour Investments Inc. now owns 7,818 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SCHW. Piper Sandler increased their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley increased their target price on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Jefferies Financial Group lifted their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays increased their price objective on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Two equities 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 company. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average price target of $86.33.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 3,380 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the sale, the insider now owns 57,818 shares in the company, valued at $4,586,123.76. This represents a 5.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on 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 transaction, the chairman now owns 827,377 shares of the company’s stock, valued at $67,770,450.07. The trade was a 35.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 501,087 shares of company stock worth $40,952,233. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Up 0.9 %

Shares of Charles Schwab stock opened at $77.80 on Tuesday. The company’s fifty day simple moving average is $78.54 and its two-hundred day simple moving average is $74.48. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $141.10 billion, a P/E ratio of 26.02, a PEG ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping 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 net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. Research analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.39%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio is presently 36.12%.

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.