Skba Capital Management LLC Sells 30,400 Shares of The Charles Schwab Co. (NYSE:SCHW)

Skba Capital Management LLC trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 26.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,900 shares of the financial services provider’s stock after selling 30,400 shares during the quarter. Skba Capital Management LLC’s holdings in Charles Schwab were worth $6,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in shares of Charles Schwab by 0.6% during the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after purchasing an additional 38,201 shares during the period. United Bank raised its position in Charles Schwab by 13.0% during the 3rd quarter. United Bank now owns 11,352 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 1,309 shares during the last quarter. Bridgewater Associates LP purchased a new stake in Charles Schwab in the 3rd quarter worth approximately $1,754,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Charles Schwab by 141.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,099,801 shares of the financial services provider’s stock worth $71,278,000 after buying an additional 644,440 shares during the last quarter. Finally, Semmax Financial Advisors Inc. increased its stake in shares of Charles Schwab by 17.1% during the third quarter. Semmax Financial Advisors Inc. now owns 67,307 shares of the financial services provider’s stock valued at $4,362,000 after buying an additional 9,839 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on SCHW shares. Jefferies Financial Group lifted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler lifted their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and lifted their price objective for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Finally, Redburn Partners decreased their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Two research 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $86.33.

Charles Schwab Trading Down 2.3 %

Shares of SCHW stock opened at $77.79 on Monday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $141.08 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The stock’s 50-day moving average price is $79.55 and its 200-day moving average price is $75.45.

Charles Schwab (NYSE:SCHW) last released 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 company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. Charles Schwab’s quarterly revenue 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 fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.39%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is presently 36.12%.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 8,614 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $80.00, for a total transaction of $689,120.00. Following the transaction, the insider now owns 49,204 shares in the company, valued at approximately $3,936,320. The trade was a 14.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 509,701 shares of company stock worth $41,641,353 over the last quarter. Company insiders own 6.60% of the company’s stock.

Charles Schwab 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.