The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC lowered its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,721 shares of the financial services provider’s stock after selling 220 shares during the quarter. Charles Schwab accounts for 1.4% of Malaga Cove Capital LLC’s holdings, making the stock its 17th biggest position. Malaga Cove Capital LLC’s holdings in Charles Schwab were worth $3,532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trust Co. of Toledo NA OH increased its holdings in Charles Schwab by 13.5% in the fourth quarter. Trust Co. of Toledo NA OH now owns 7,007 shares of the financial services provider’s stock valued at $519,000 after buying an additional 835 shares in the last quarter. Capital Investment Advisors LLC increased its holdings in Charles Schwab by 6.2% in the fourth quarter. Capital Investment Advisors LLC now owns 7,027 shares of the financial services provider’s stock valued at $520,000 after buying an additional 412 shares in the last quarter. Wedmont Private Capital increased its holdings in Charles Schwab by 13.7% in the fourth quarter. Wedmont Private Capital now owns 14,568 shares of the financial services provider’s stock valued at $1,060,000 after buying an additional 1,751 shares in the last quarter. Cooper Financial Group increased its holdings in Charles Schwab by 12.6% in the fourth quarter. Cooper Financial Group now owns 13,950 shares of the financial services provider’s stock valued at $1,032,000 after buying an additional 1,566 shares in the last quarter. Finally, Eastern Bank increased its holdings in Charles Schwab by 37.2% in the fourth quarter. Eastern Bank now owns 2,317 shares of the financial services provider’s stock valued at $171,000 after buying an additional 628 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In related news, insider Jonathan M. Craig sold 9,559 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $82.00, for a total transaction of $783,838.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 9,887 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the sale, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,412 shares of company stock valued at $3,014,797. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SCHW shares. Wells Fargo & Company dropped their target price on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and lifted their target price for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Truist Financial dropped their target price on shares of Charles Schwab from $85.00 to $84.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. UBS Group lifted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Finally, Morgan Stanley lifted their target price on shares of Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.61.

Charles Schwab Price Performance

Shares of SCHW stock opened at $86.21 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The firm’s 50-day moving average is $77.86 and its two-hundred day moving average is $78.08. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $87.00. The company has a market capitalization of $156.35 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. Analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is 32.73%.

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.