Tobam Sells 1,147 Shares of The Charles Schwab Co. (NYSE:SCHW)

Tobam trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 31.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,505 shares of the financial services provider’s stock after selling 1,147 shares during the quarter. Tobam’s holdings in Charles Schwab were worth $185,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position 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 purchasing an additional 3,157,923 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Charles Schwab by 6.3% during the 3rd 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 buying an additional 1,711,312 shares during the last quarter. AustralianSuper Pty Ltd boosted its position in Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after buying an additional 1,644,931 shares during the period. KBC Group NV grew its holdings in Charles Schwab by 186.7% in the 4th quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock worth $158,236,000 after acquiring an additional 1,392,255 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new position in shares of Charles Schwab in the third quarter valued at about $86,845,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.5 %

Shares of NYSE:SCHW opened at $83.18 on Friday. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.04. The stock has a market capitalization of $148.04 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.01 and a beta of 0.99. The stock has a fifty day simple moving average of $77.99 and a two-hundred day simple moving average of $71.66. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. On average, 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 company also recently disclosed 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. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, February 14th. Charles Schwab’s payout ratio is presently 33.44%.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the transaction, the director now directly owns 442,807 shares of the company’s stock, valued at $36,057,774.01. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,014 shares of company stock valued at $4,052,281. 6.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SCHW. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Piper Sandler upped their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Redburn Partners cut their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Finally, Jefferies Financial Group upped their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $84.50.

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.