Mission Wealth Management LP Sells 278 Shares of The Charles Schwab Co. (NYSE:SCHW)

Mission Wealth Management LP reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,247 shares of the financial services provider’s stock after selling 278 shares during the quarter. Mission Wealth Management LP’s holdings in Charles Schwab were worth $462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Franklin Resources Inc. increased 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 valued at $1,644,674,000 after acquiring an additional 3,157,923 shares in the last quarter. Veritas Asset Management LLP bought a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $185,649,000. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 valued at $1,858,706,000 after acquiring an additional 1,711,312 shares in the last quarter. KBC Group NV increased its holdings in shares of 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 valued at $158,236,000 after acquiring an additional 1,392,255 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new position in shares of Charles Schwab during the third quarter valued at approximately $86,845,000. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Redburn Partners cut their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Truist Financial upped their price target on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Trading Up 2.3 %

Shares of SCHW stock opened at $76.88 on Thursday. The stock has a market capitalization of $139.42 billion, a PE ratio of 25.71, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The business has a 50-day moving average of $78.49 and a 200 day moving average of $73.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the business posted $0.68 EPS. The business’s revenue was up 19.5% on a year-over-year basis. As a group, sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.40%. Charles Schwab’s payout ratio is currently 36.12%.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab 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 completion of the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the transaction, the insider now owns 57,818 shares of the company’s stock, valued at $4,586,123.76. This represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,200 shares of company stock worth $40,206,950 over the last ninety days. 6.60% of the stock is owned by corporate insiders.

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.