The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 327,418 shares of the financial services provider’s stock after selling 53,485 shares during the period. Flputnam Investment Management Co.’s holdings in Charles Schwab were worth $24,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Washington Trust Advisors Inc. grew its holdings in Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab during the 3rd quarter valued at $25,000. Prospera Private Wealth LLC acquired a new stake in shares of Charles Schwab during the 3rd quarter worth $31,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Charles Schwab in the 3rd quarter worth $33,000. Finally, Planning Capital Management Corp purchased a new position in shares of Charles Schwab in the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $79.71 on Friday. The firm has a market cap of $141.99 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 0.99 and a beta of 0.99. 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 business’s 50 day moving average is $78.37 and its two-hundred day moving average is $73.54. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.68 earnings per share. Analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.35%. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the company’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 value of $699,397.36. Following the sale, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 487,820 shares of company stock worth $39,938,849. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SCHW shares. Morgan Stanley upped their price target on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. 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. Finally, Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $86.33.

Charles Schwab 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.