The Charles Schwab Co. (NYSE:SCHW) Stake Reduced by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,947 shares of the financial services provider’s stock after selling 470 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Charles Schwab were worth $292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Charles Schwab in the fourth quarter worth $38,000. Atala Financial Inc purchased a new position in shares of Charles Schwab in the fourth quarter worth approximately $41,000. Knuff & Co LLC increased its position in shares of Charles Schwab by 1,309.3% in the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 563 shares in the last quarter. Financial Life Planners purchased a new position in Charles Schwab during the fourth quarter valued at approximately $46,000. Finally, Whipplewood Advisors LLC purchased a new position in Charles Schwab during the fourth quarter valued at approximately $46,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

SCHW stock opened at $80.18 on Tuesday. 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 company has a 50 day moving average price of $76.78 and a 200 day moving average price of $77.19. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The stock has a market capitalization of $145.41 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

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

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is 32.73%.

Insider Activity

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the transaction, the director now owns 172,162 shares of the company’s stock, valued at $12,784,750.12. The trade was a 2.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 493,482 shares of company stock valued at $40,288,720 in the last quarter. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SCHW. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Truist Financial reduced their price objective on shares of Charles Schwab from $85.00 to $84.00 and set a “buy” rating for the company in a research note on Monday, April 21st. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and increased their price target for the company from $88.00 to $103.00 in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Redburn Partners lowered their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus price target of $87.22.

Charles Schwab Company 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.