The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,205,887 shares of the financial services provider’s stock after selling 26,849 shares during the quarter. Van ECK Associates Corp’s holdings in Charles Schwab were worth $237,268,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SCHW shares. Truist Financial raised their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Morgan Stanley boosted their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Citigroup upped their target price on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.56.

Charles Schwab Stock Down 1.0 %

SCHW opened at $82.37 on Thursday. The company has a market capitalization of $146.59 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The business has a 50-day moving average of $78.04 and a 200-day moving average of $72.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.31%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio is 33.44%.

Insider Activity at Charles Schwab

In related news, Director Arun Sarin sold 8,548 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the transaction, the director now owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,514 shares of company stock worth $3,859,731 in the last 90 days. 6.60% of the stock is owned by company insiders.

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.