Thompson Siegel & Walmsley LLC trimmed its stake in The Charles Schwab Co. (NYSE:SCHW) by 16.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 204,881 shares of the financial services provider’s stock after selling 40,478 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in The Charles Schwab were worth $10,867,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC acquired a new stake in The Charles Schwab during the 4th quarter valued at $26,000. Slow Capital Inc. acquired a new position in The Charles Schwab during the third quarter valued at $36,000. Shine Investment Advisory Services Inc. lifted its stake in The Charles Schwab by 51.2% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 1,113 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 377 shares in the last quarter. RWM Asset Management LLC purchased a new stake in The Charles Schwab in the 4th quarter worth about $47,000. Finally, Ellevest Inc. boosted its position in The Charles Schwab by 624.4% during the 4th quarter. Ellevest Inc. now owns 920 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 793 shares during the period. 77.47% of the stock is currently owned by institutional investors.
In related news, EVP Jonathan M. Craig sold 8,903 shares of the company’s stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $63.01, for a total value of $560,978.03. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles A. Ruffel purchased 3,636 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The stock was acquired at an average cost of $54.08 per share, with a total value of $196,634.88. Insiders sold a total of 1,586,205 shares of company stock valued at $88,310,828 in the last quarter. Corporate insiders own 10.80% of the company’s stock.
The Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, January 18th. The financial services provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The Charles Schwab had a net margin of 29.80% and a return on equity of 13.52%. The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 60.2% on a year-over-year basis. Analysts expect that The Charles Schwab Co. will post 2.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 26th. Shareholders of record on Friday, February 12th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.14%. The Charles Schwab’s dividend payout ratio is currently 26.47%.
A number of research firms have recently issued reports on SCHW. Wells Fargo & Company increased their price target on shares of The Charles Schwab from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 20th. Morgan Stanley boosted their price target on The Charles Schwab from $71.00 to $76.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 10th. Deutsche Bank Aktiengesellschaft increased their price objective on The Charles Schwab from $73.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, February 3rd. Wolfe Research upgraded The Charles Schwab from an “underperform” rating to a “market perform” rating and set a $67.00 target price for the company in a report on Monday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded The Charles Schwab from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $54.00 in a report on Tuesday, November 17th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The Charles Schwab has a consensus rating of “Buy” and a consensus price target of $55.77.
About The Charles Schwab
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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