Legacy Capital Wealth Partners LLC Sells 230 Shares of The Charles Schwab Co. (NYSE:SCHW)

Legacy Capital Wealth Partners LLC reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,060 shares of the financial services provider’s stock after selling 230 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Charles Schwab were worth $596,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. increased its position in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab during the third quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new stake in shares of Charles Schwab during the third quarter valued at approximately $31,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Charles Schwab during the third quarter valued at approximately $33,000. Finally, Planning Capital Management Corp bought a new stake in shares of Charles Schwab during the third quarter valued at approximately $33,000. 84.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup boosted their price objective on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group boosted their price objective on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Morgan Stanley boosted their price target on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $84.56.

Charles Schwab Price Performance

Charles Schwab stock opened at $80.32 on Monday. 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 Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The firm has a market cap of $142.94 billion, a P/E ratio of 26.86, a P/E/G ratio of 1.02 and a beta of 0.99. The business’s fifty day moving average is $78.03 and its two-hundred day moving average is $72.40.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results 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. 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 for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is 33.44%.

Insider Activity

In related news, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the sale, the insider now owns 59,092 shares in the company, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 502,859 shares of company stock valued at $41,161,496 over the last 90 days. 6.60% of the stock is owned by company 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.