Wilmington Savings Fund Society FSB Lowers Position in The Charles Schwab Co. (NYSE:SCHW)

Wilmington Savings Fund Society FSB decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 72,363 shares of the financial services provider’s stock after selling 1,710 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Charles Schwab were worth $5,356,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its position in shares of Charles Schwab by 0.7% in the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after purchasing an additional 414,949 shares in the last quarter. Geode Capital Management LLC raised its stake in Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after buying an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after acquiring an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Charles Schwab by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after purchasing an additional 493,264 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.5 %

Charles Schwab stock opened at $83.18 on Friday. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.04. The stock has a market cap of $148.04 billion, a PE ratio of 27.82, a P/E/G ratio of 1.02 and a beta of 0.99. 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 stock’s fifty day moving average is $78.00 and its two-hundred day moving average is $71.78.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. On average, sell-side analysts expect that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.30%. Charles Schwab’s dividend payout ratio is currently 33.44%.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. The trade was a 12.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,014 shares of company stock valued at $4,052,281. 6.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research reports. Piper Sandler lifted their price target on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Raymond James decreased their target price on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. JMP Securities reiterated a “market outperform” rating and issued a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Redburn Partners decreased their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research note on Friday, January 17th. Finally, The Goldman Sachs Group increased their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $84.50.

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.