Pacific Heights Asset Management LLC Cuts Stake in The Charles Schwab Co. (NYSE:SCHW)

Pacific Heights Asset Management LLC trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 40.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,000 shares of the financial services provider’s stock after selling 75,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in Charles Schwab were worth $8,141,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Merit Financial Group LLC raised its stake in shares of Charles Schwab by 230.1% in the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 23,383 shares during the period. Benjamin Edwards Inc. raised its position in Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares during the period. Synovus Financial Corp lifted its stake in Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in shares of Charles Schwab during the fourth quarter valued at approximately $688,000. Finally, Golden State Equity Partners grew its stake in shares of Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after buying an additional 9,108 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Morgan Stanley raised their price target on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. UBS Group boosted their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Truist Financial raised their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Citigroup boosted their price target on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Two 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.com, the stock presently has an average rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $75.53 on Friday. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year 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 firm has a market cap of $136.97 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 0.99 and a beta of 0.98. The stock’s 50-day moving average is $78.50 and its two-hundred day moving average is $73.86.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. Analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.43%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is presently 36.12%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following the transaction, the insider now directly owns 57,818 shares in the company, valued at approximately $4,586,123.76. This trade represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,200 shares of company stock worth $40,206,950. Company insiders own 6.60% of the company’s stock.

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.