The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 29,275 shares of the financial services provider’s stock after selling 508 shares during the period. Charles Schwab comprises approximately 1.4% of Argus Investors Counsel Inc.’s holdings, making the stock its 22nd biggest holding. Argus Investors Counsel Inc.’s holdings in Charles Schwab were worth $2,167,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Merit Financial Group LLC grew its holdings in Charles Schwab by 230.1% in the fourth 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 during the period. Benjamin Edwards Inc. grew its stake in shares of Charles Schwab by 2,840.7% during the 3rd 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 period. Synovus Financial Corp increased its holdings in shares of 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. Oregon Pacific Wealth Management LLC purchased a new position in shares of Charles Schwab in the 4th quarter worth $688,000. Finally, Golden State Equity Partners boosted its holdings in Charles Schwab by 293.9% in the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 9,108 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SCHW. Truist Financial restated a “buy” rating and set a $90.00 price target (up from $86.00) on shares of Charles Schwab in a research note on Wednesday, January 22nd. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Piper Sandler increased their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Cowen lifted their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Finally, Barclays increased their price target on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.11.

Insider Buying and Selling at Charles Schwab

In other news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was 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 directly owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 50,014 shares of company stock worth $4,052,281 over the last 90 days. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock opened at $81.79 on Thursday. The firm has a fifty day moving average of $77.97 and a two-hundred day moving average of $71.57. The firm has a market cap of $145.57 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.01 and a beta of 0.99. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. The firm had revenue of $5.33 billion during 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%. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, research analysts anticipate that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 33.44%.

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.