Legacy Wealth Asset Management LLC Sells 144 Shares of The Charles Schwab Co. (NYSE:SCHW)

Legacy Wealth Asset Management LLC lowered its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 9,057 shares of the financial services provider’s stock after selling 144 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Charles Schwab were worth $670,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Charles Schwab by 0.7% in the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after buying an additional 414,949 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Charles Schwab by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after acquiring an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of 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 acquiring an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of 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 purchasing an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Charles Schwab by 2.5% in the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after purchasing an additional 493,264 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the sale, the insider now owns 59,092 shares in the company, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,823 shares of company stock worth $2,171,194 over the last ninety days. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on SCHW shares. The Goldman Sachs Group lifted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company reduced their price objective on Charles Schwab from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Raymond James dropped their target price on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler increased their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $81.41.

Charles Schwab Stock Performance

Charles Schwab stock opened at $76.53 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $136.20 billion, a P/E ratio of 29.90, a P/E/G ratio of 1.19 and a beta of 0.99. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.35. The firm has a 50-day moving average of $77.63 and a 200-day moving average of $70.63.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Sell-side analysts expect that The Charles Schwab Co. will post 3.13 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s payout ratio is presently 39.06%.

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.