The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Greystone Financial Group LLC

Greystone Financial Group LLC lessened its position in The Charles Schwab Co. (NYSE:SCHW) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,063 shares of the financial services provider’s stock after selling 1,092 shares during the period. Greystone Financial Group LLC’s holdings in Charles Schwab were worth $1,115,000 at the end of the most recent reporting period.

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

Insider Activity

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $1,181,690.10. The disclosure for this sale can be found here. Insiders have sold 490,120 shares of company stock worth $40,127,472 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SCHW. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Truist Financial boosted their target price on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Piper Sandler increased their price target on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Down 1.6 %

Shares of NYSE:SCHW opened at $80.50 on Friday. The firm has a 50 day simple moving average of $77.98 and a 200 day simple moving average of $72.95. 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 company has a market cap of $143.38 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is 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.