Modera Wealth Management LLC Cuts Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Modera Wealth Management LLC cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 161,367 shares of the financial services provider’s stock after selling 4,451 shares during the quarter. Modera Wealth Management LLC’s holdings in Charles Schwab were worth $11,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Charles Schwab by 2.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 27,350 shares of the financial services provider’s stock valued at $1,773,000 after purchasing an additional 751 shares in the last quarter. VELA Investment Management LLC grew its stake in Charles Schwab by 1.3% during the third quarter. VELA Investment Management LLC now owns 23,657 shares of the financial services provider’s stock worth $1,533,000 after buying an additional 313 shares during the period. Biechele Royce Advisors increased its position in shares of Charles Schwab by 10.0% in the third quarter. Biechele Royce Advisors now owns 210,531 shares of the financial services provider’s stock worth $13,644,000 after acquiring an additional 19,061 shares in the last quarter. Greenwich Wealth Management LLC purchased a new position in shares of Charles Schwab in the 3rd quarter valued at $5,582,000. Finally, First Interstate Bank raised its stake in shares of Charles Schwab by 2.5% in the 3rd quarter. First Interstate Bank now owns 62,051 shares of the financial services provider’s stock valued at $4,022,000 after acquiring an additional 1,490 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction on 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 transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now directly owns 18,617 shares in the company, valued at $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 487,820 shares of company stock valued at $39,938,849 in the last ninety days. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $79.71 on Friday. The company has a market cap of $141.99 billion, a P/E ratio of 26.66, a PEG ratio of 0.99 and a beta of 0.99. The business has a 50 day moving average of $78.37 and a two-hundred day moving average of $73.61. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

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. As a group, analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.27 dividend. The ex-dividend date of this dividend was 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 1.35%. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Analysts Set New Price Targets

Several analysts recently issued reports on SCHW shares. JMP Securities reiterated 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. Jefferies Financial Group raised their target price on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Redburn Partners lowered 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 report on Friday, January 17th. Finally, Citigroup boosted their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $86.33.

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.