WealthPlan Investment Management LLC Decreases Stake in The Charles Schwab Co. (NYSE:SCHW)

WealthPlan Investment Management LLC reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 35.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,488 shares of the financial services provider’s stock after selling 1,925 shares during the period. WealthPlan Investment Management LLC’s holdings in Charles Schwab were worth $258,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Charles Schwab by 18.3% during the third quarter. Creative Planning now owns 511,376 shares of the financial services provider’s stock worth $31,891,000 after purchasing an additional 79,166 shares during the last quarter. Good Life Advisors LLC lifted its position in shares of Charles Schwab by 22.0% during the third quarter. Good Life Advisors LLC now owns 10,496 shares of the financial services provider’s stock worth $680,000 after purchasing an additional 1,892 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Charles Schwab by 2.6% during the third quarter. Global Retirement Partners LLC now owns 27,882 shares of the financial services provider’s stock worth $1,807,000 after purchasing an additional 703 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Charles Schwab by 5.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 176,520 shares of the financial services provider’s stock worth $11,440,000 after purchasing an additional 9,644 shares during the last quarter. Finally, Claro Advisors LLC lifted its position in shares of Charles Schwab by 5.9% during the third quarter. Claro Advisors LLC now owns 5,476 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 303 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the sale, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 512,143 shares of company stock worth $41,917,493. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Down 1.5 %

Charles Schwab stock opened at $80.32 on Friday. The firm has a 50 day simple moving average of $78.03 and a 200-day simple moving average of $72.35. 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 stock has a market capitalization of $142.94 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. As a group, equities research analysts expect that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.34%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 33.44%.

Analyst Ratings Changes

SCHW has been the topic of several research analyst reports. Citigroup increased their price target on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Morgan Stanley increased their price objective 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. Barclays increased their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Truist Financial increased their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $84.56.

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.