HM Payson & Co. Cuts Position in The Charles Schwab Co. (NYSE:SCHW)

HM Payson & Co. trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,141 shares of the financial services provider’s stock after selling 1,934 shares during the quarter. HM Payson & Co.’s holdings in Charles Schwab were worth $1,417,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Merit Financial Group LLC raised its holdings in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after buying an additional 23,383 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of Charles Schwab by 2,840.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after buying an additional 5,937 shares during the period. Synovus Financial Corp raised its holdings in shares of Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after buying an additional 21,377 shares during the period. Oregon Pacific Wealth Management LLC purchased a new stake in shares of Charles Schwab during the 4th quarter valued at about $688,000. Finally, Golden State Equity Partners increased its holdings in Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after purchasing an additional 9,108 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 9,887 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the transaction, the insider now owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction on 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. In the last quarter, insiders sold 501,087 shares of company stock worth $40,952,233. 6.60% of the stock is owned by company insiders.

Charles Schwab Trading Down 1.3 %

NYSE:SCHW opened at $74.58 on Friday. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The firm has a market capitalization of $135.25 billion, a P/E ratio of 24.94, a P/E/G ratio of 0.99 and a beta of 0.98. 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 business has a 50 day simple moving average of $78.50 and a 200 day simple moving average of $73.99.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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 business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is 36.12%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SCHW. JMP Securities restated a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Truist Financial lifted their price objective on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $88.00 to $103.00 in a report on Tuesday, February 18th. Finally, Piper Sandler lifted their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $86.33.

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.