Thoroughbred Financial Services LLC Sells 251 Shares of The Charles Schwab Co. (NYSE:SCHW)

Thoroughbred Financial Services LLC cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 2.3% during the fourth quarter, HoldingsChannel reports. The firm owned 10,662 shares of the financial services provider’s stock after selling 251 shares during the period. Thoroughbred Financial Services LLC’s holdings in Charles Schwab were worth $789,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Charles Schwab during the 4th quarter worth $38,000. Atala Financial Inc purchased a new stake in Charles Schwab in the fourth quarter worth about $41,000. Knuff & Co LLC lifted its stake in Charles Schwab by 1,309.3% in the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 563 shares during the period. Financial Life Planners purchased a new position in Charles Schwab during the 4th quarter valued at about $46,000. Finally, Whipplewood Advisors LLC purchased a new position in Charles Schwab during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the completion of the transaction, the insider now owns 45,824 shares of the company’s stock, valued at approximately $3,548,152.32. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock worth $41,903,066 over the last three months. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $102.00 in a research note on Wednesday. Jefferies Financial Group lifted their price target on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays upped their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. JMP Securities reiterated a “market outperform” rating and issued a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Piper Sandler boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.94.

Charles Schwab Price Performance

Shares of SCHW opened at $69.07 on Friday. 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 company’s fifty day moving average price is $79.09 and its 200-day moving average price is $75.81. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The firm has a market capitalization of $125.26 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last posted its quarterly 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 business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) 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.