HFR Wealth Management LLC Sells 2,225 Shares of The Charles Schwab Co. (NYSE:SCHW)

HFR Wealth Management LLC trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 174,691 shares of the financial services provider’s stock after selling 2,225 shares during the quarter. Charles Schwab comprises about 3.2% of HFR Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position. HFR Wealth Management LLC’s holdings in Charles Schwab were worth $12,929,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SCHW. Franklin Resources Inc. increased its stake in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after acquiring an additional 3,157,923 shares during the last quarter. Veritas Asset Management LLP bought a new stake in Charles Schwab during the fourth quarter worth approximately $185,649,000. Massachusetts Financial Services Co. MA increased its stake in Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares during the last quarter. KBC Group NV increased its stake in Charles Schwab by 186.7% during the fourth 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 bought a new stake in Charles Schwab during the third quarter worth approximately $86,845,000. 84.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SCHW has been the subject of several recent analyst reports. Piper Sandler boosted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Redburn Partners dropped their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. JMP Securities restated a “market outperform” rating and set a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.33.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $78.08 on Tuesday. The company has a market capitalization of $139.08 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. 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 firm has a 50 day moving average of $78.44 and a 200 day moving average of $73.76.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS 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%. Charles Schwab’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. On average, sell-side analysts predict 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. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.38%. Charles Schwab’s dividend payout ratio is presently 36.12%.

Insider Transactions at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s 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 approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 487,820 shares of company stock valued at $39,938,849. Corporate insiders own 6.60% of the company’s stock.

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.