The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Evermay Wealth Management LLC

Evermay Wealth Management LLC cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,616 shares of the financial services provider’s stock after selling 332 shares during the period. Evermay Wealth Management LLC’s holdings in Charles Schwab were worth $342,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Merit Financial Group LLC raised its holdings in shares of Charles Schwab by 230.1% in 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 purchasing an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Charles Schwab by 2,840.7% in the third 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 last quarter. Synovus Financial Corp lifted its holdings in Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares during the last quarter. Patten & Patten Inc. TN boosted its position in shares of Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after acquiring an additional 63,463 shares in the last quarter. Finally, Equity Investment Corp increased its holdings in shares of Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after acquiring an additional 140,643 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $82.73 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $77.97 and a 200 day moving average price of $71.14. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $83.84. The company has a market cap of $147.22 billion, a P/E ratio of 27.67, a PEG ratio of 1.00 and a beta of 0.99.

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, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 earnings per share. Research analysts predict that The Charles Schwab Co. will post 4.18 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.27 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.31%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is currently 33.44%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SCHW. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Citigroup upped their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Raymond James cut their price target on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Truist Financial restated a “buy” rating and issued a $90.00 price objective (up previously from $86.00) on shares of Charles Schwab in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab has a consensus rating of “Hold” and an average target price of $84.11.

Insider Transactions at Charles Schwab

In related news, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the sale, the director now owns 442,807 shares in the company, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,014 shares of company stock valued at $4,052,281 in the last 90 days. 6.60% of the stock is currently owned by insiders.

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.