Van Cleef Asset Management Inc Sells 599 Shares of The Charles Schwab Co. (NYSE:SCHW)

Van Cleef Asset Management Inc trimmed its stake in The Charles Schwab Co. (NYSE:SCHW) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,969 shares of the financial services provider’s stock after selling 599 shares during the quarter. Charles Schwab makes up about 1.2% of Van Cleef Asset Management Inc’s portfolio, making the stock its 20th biggest holding. Van Cleef Asset Management Inc’s holdings in Charles Schwab were worth $10,655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Linscomb Wealth Inc. increased its holdings in Charles Schwab by 3.6% during the fourth quarter. Linscomb Wealth Inc. now owns 39,479 shares of the financial services provider’s stock worth $2,922,000 after buying an additional 1,383 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Charles Schwab by 7.9% during the 4th quarter. QRG Capital Management Inc. now owns 26,699 shares of the financial services provider’s stock worth $1,976,000 after purchasing an additional 1,954 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Charles Schwab in the 4th quarter valued at about $32,643,000. Oppenheimer Asset Management Inc. lifted its stake in Charles Schwab by 4.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 134,253 shares of the financial services provider’s stock valued at $9,936,000 after purchasing an additional 6,256 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in Charles Schwab by 1.9% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 595,800 shares of the financial services provider’s stock worth $44,095,000 after purchasing an additional 11,100 shares during the period. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 directly owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This represents 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 valued at $39,938,849. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the topic of several research analyst reports. Citigroup upped their price objective on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Morgan Stanley lifted their price objective on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Stock Down 0.2 %

SCHW stock opened at $78.53 on Friday. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The business has a 50-day simple moving average of $78.27 and a 200 day simple moving average of $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 company 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.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion during 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%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. Sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.27 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.38%. Charles Schwab’s dividend payout ratio (DPR) is presently 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.