Pittenger & Anderson Inc. Sells 229 Shares of The Charles Schwab Co. (NYSE:SCHW)

Pittenger & Anderson Inc. reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,440 shares of the financial services provider’s stock after selling 229 shares during the period. Pittenger & Anderson Inc.’s holdings in Charles Schwab were worth $3,881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCHW. State Street Corp grew its holdings in shares of Charles Schwab by 0.7% during the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after buying an additional 414,949 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Charles Schwab by 1.5% during the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after buying an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after buying an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Charles Schwab by 2.5% during the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after buying an additional 493,264 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Down 1.5 %

Charles Schwab stock opened at $80.32 on Monday. The company has a market capitalization of $142.94 billion, a P/E ratio of 26.86, a P/E/G ratio of 1.02 and a beta of 0.99. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average price of $78.03 and a 200-day moving average price of $72.45. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. As a group, equities analysts predict that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid 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 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio is presently 33.44%.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of analyst reports. Truist Financial lifted their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Piper Sandler lifted their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. UBS Group boosted their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Finally, JMP Securities restated a “market outperform” rating and set a $94.00 price target (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Charles Schwab has an average rating of “Hold” and a consensus target price of $84.56.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the sale, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 502,859 shares of company stock worth $41,161,496. 6.60% of the stock is owned by corporate insiders.

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.