TCW Group Inc. Has $2.76 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

TCW Group Inc. cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 26.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,321 shares of the financial services provider’s stock after selling 13,253 shares during the period. TCW Group Inc.’s holdings in Charles Schwab were worth $2,762,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Washington Trust Advisors Inc. increased its holdings in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Charles Schwab during the third quarter worth approximately $25,000. Prospera Private Wealth LLC acquired a new position in Charles Schwab during the third quarter valued at approximately $31,000. Hazlett Burt & Watson Inc. bought a new position in shares of Charles Schwab in the third quarter valued at approximately $33,000. Finally, Planning Capital Management Corp acquired a new stake in shares of Charles Schwab in the third quarter worth $33,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Price Performance

NYSE:SCHW opened at $80.50 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 company has a 50-day moving average of $77.98 and a 200-day moving average of $73.10. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a market capitalization of $143.38 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 0.99 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.27 dividend. 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 of this dividend is Friday, February 14th. Charles Schwab’s dividend payout ratio is 36.12%.

Insiders Place Their Bets

In related news, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold 487,820 shares of company stock worth $39,938,849 over the last three months. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Truist Financial boosted their price objective on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Citigroup increased their target price on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $86.33.

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.