Tocqueville Asset Management L.P. Has $13.50 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Tocqueville Asset Management L.P. cut its position in The Charles Schwab Co. (NYSE:SCHW) by 56.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 182,349 shares of the financial services provider’s stock after selling 231,904 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Charles Schwab were worth $13,496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in Charles Schwab in the third quarter valued at approximately $31,000. Atala Financial Inc bought a new position in shares of Charles Schwab in the 4th quarter worth $41,000. Knuff & Co LLC grew its position in Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 563 shares during the period. Financial Life Planners bought a new stake in Charles Schwab during the 4th quarter valued at $46,000. Finally, Whipplewood Advisors LLC acquired a new position in Charles Schwab during the fourth quarter worth $46,000. 84.38% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated 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 directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 501,087 shares of company stock valued at $40,952,233 over the last quarter. Company insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 0.9 %

NYSE:SCHW opened at $77.80 on Tuesday. The firm’s 50 day moving average is $78.54 and its 200 day moving average is $74.48. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The stock has a market capitalization of $141.10 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. 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 issued 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. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. Sell-side analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Analyst Ratings Changes

Several research firms have recently commented on SCHW. Redburn Partners decreased their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Piper Sandler raised their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Morgan Stanley upped their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.