Kirtland Hills Capital Management LLC Decreases Holdings in The Charles Schwab Co. (NYSE:SCHW)

Kirtland Hills Capital Management LLC trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,494 shares of the financial services provider’s stock after selling 349 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in Charles Schwab were worth $555,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Washington Trust Advisors Inc. raised its position in shares of Charles Schwab by 62.6% during the 3rd 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 in the last quarter. Capital Performance Advisors LLP bought a new position in Charles Schwab in the 3rd quarter worth about $25,000. Prospera Private Wealth LLC bought a new position in Charles Schwab in the 3rd quarter worth about $31,000. Hazlett Burt & Watson Inc. bought a new position in Charles Schwab in the 3rd quarter worth about $33,000. Finally, Planning Capital Management Corp bought a new position in Charles Schwab in the 3rd quarter worth about $33,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SCHW. Citigroup upped their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and upped their target price for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. JMP Securities reiterated a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Jefferies Financial Group increased their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Truist Financial increased their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $86.33.

Charles Schwab Trading Down 1.4 %

NYSE SCHW opened at $79.01 on Wednesday. The company has a fifty day simple moving average of $78.07 and a two-hundred day simple moving average of $73.34. The stock has a market cap of $140.74 billion, a P/E ratio of 26.43, a P/E/G ratio of 0.99 and a beta of 0.99. 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.

Charles Schwab (NYSE:SCHW) last posted 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 business had revenue of $5.33 billion during 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%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the company posted $0.68 earnings per share. On average, analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business 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 $0.27 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insiders Place Their Bets

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction 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 transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 487,820 shares of company stock valued at $39,938,849. Insiders own 6.60% of the company’s stock.

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.