Motco Reduces Position in The Charles Schwab Co. (NYSE:SCHW)

Motco reduced its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,269 shares of the financial services provider’s stock after selling 574 shares during the period. Motco’s holdings in Charles Schwab were worth $9,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its stake in Charles Schwab by 0.7% in the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after purchasing an additional 414,949 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Charles Schwab by 1.5% in the 3rd 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 lifted its position 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 valued at $1,858,706,000 after acquiring an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. boosted its stake in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Charles Schwab by 2.5% in the third 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 acquiring an additional 493,264 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. The trade was a 35.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction that occurred on 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 $1,523,242.94. The trade was a 31.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 487,820 shares of company stock worth $39,938,849. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. UBS Group boosted their price objective on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Truist Financial increased their price objective on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group increased their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $86.33.

Charles Schwab Stock Performance

NYSE:SCHW opened at $78.53 on Friday. The firm’s fifty day simple moving average is $78.27 and its 200-day simple moving average is $73.41. 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 stock has a market cap of $139.87 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Analysts expect that The Charles Schwab Co. will post 4.22 earnings per share 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. Stockholders of record on Friday, February 14th will be given a $0.27 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, February 14th. Charles Schwab’s dividend payout ratio is currently 36.12%.

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.