Parallel Advisors LLC Sells 3,805 Shares of The Charles Schwab Co. (NYSE:SCHW)

Parallel Advisors LLC trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 9.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 35,993 shares of the financial services provider’s stock after selling 3,805 shares during the quarter. Parallel Advisors LLC’s holdings in Charles Schwab were worth $2,664,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SCHW. Prospera Private Wealth LLC bought a new position in Charles Schwab during the third quarter valued at approximately $31,000. Atala Financial Inc bought a new position in shares of Charles Schwab during the 4th quarter valued at $41,000. Knuff & Co LLC boosted its stake in shares of Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after buying an additional 563 shares during the last quarter. Financial Life Planners bought a new stake in shares of Charles Schwab in the fourth quarter worth $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in Charles Schwab during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

SCHW opened at $77.80 on Tuesday. The stock has a market capitalization of $141.10 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a fifty day moving average of $78.54 and a 200 day moving average of $74.48.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping 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 return on equity of 18.20% and a net margin of 30.31%. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 36.12%.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 9,887 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares in the company, valued at $3,613,038.78. This trade represents a 17.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 501,087 shares of company stock valued at $40,952,233 over the last 90 days. 6.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SCHW shares. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and boosted their price target for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Barclays raised their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Redburn Partners decreased their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Two equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus 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.