The Charles Schwab Co. (NYSE:SCHW) is Heron Bay Capital Management’s 7th Largest Position

Heron Bay Capital Management reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 258,872 shares of the financial services provider’s stock after selling 11,542 shares during the period. Charles Schwab makes up about 4.0% of Heron Bay Capital Management’s holdings, making the stock its 7th largest position. Heron Bay Capital Management’s holdings in Charles Schwab were worth $19,159,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Primecap Management Co. CA raised its holdings in Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after purchasing an additional 3,216,000 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Charles Schwab in the 4th quarter worth about $189,791,000. Veritas Asset Management LLP acquired a new stake in Charles Schwab in the 4th quarter valued at about $185,649,000. Finally, KBC Group NV increased its holdings in Charles Schwab by 186.7% during the 4th 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. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the stock in a transaction that occurred on 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 trade represents a 31.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. In the last three months, insiders sold 501,087 shares of company stock worth $40,952,233. Corporate insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Barclays increased their target price on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Piper Sandler boosted their price target on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $86.33.

Charles Schwab Stock Performance

Charles Schwab stock opened at $78.47 on Friday. The company has a market cap of $142.30 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. 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’s 50-day moving average is $78.99 and its 200-day moving average is $74.79.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the firm posted $0.68 earnings per share. Charles Schwab’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm 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. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s dividend payout ratio is 36.12%.

Charles Schwab Company 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.