The Charles Schwab Co. (NYSE:SCHW) Stock Position Reduced by Destination Wealth Management

Destination Wealth Management trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 15.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,306 shares of the financial services provider’s stock after selling 2,524 shares during the period. Destination Wealth Management’s holdings in Charles Schwab were worth $1,059,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SCHW. Franklin Resources Inc. raised its stake in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Charles Schwab in the 4th quarter valued at approximately $189,791,000. Veritas Asset Management LLP acquired a new stake in shares of Charles Schwab in the 4th quarter valued at approximately $185,649,000. Massachusetts Financial Services Co. MA grew its stake in shares of Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Charles Schwab by 186.7% in 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 buying an additional 1,392,255 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SCHW has been the subject of a number of research reports. Citigroup lifted their target price on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Jefferies Financial Group boosted their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and boosted their price target for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. UBS Group upped their target price on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Stock Performance

NYSE SCHW opened at $75.53 on Friday. The stock has a market capitalization of $136.97 billion, a PE ratio of 25.26, 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 simple moving average of $78.50 and a two-hundred day simple moving average of $73.86. 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 issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.19 billion. During the same period in the previous year, the company posted $0.68 EPS. Charles Schwab’s revenue was up 19.5% on a year-over-year basis. On average, research analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is 36.12%.

Insider Buying and Selling

In other news, insider Paul V. Woolway sold 3,380 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 57,818 shares in the company, valued at $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction that occurred 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. In the last 90 days, insiders sold 491,200 shares of company stock valued at $40,206,950. 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.