Steel Grove Capital Advisors LLC Sells 229 Shares of The Charles Schwab Co. (NYSE:SCHW)

Steel Grove Capital Advisors LLC lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,900 shares of the financial services provider’s stock after selling 229 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Charles Schwab were worth $406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SCHW. Norges Bank bought a new stake in shares of Charles Schwab during the 4th quarter worth about $1,325,555,000. Morgan Stanley boosted its holdings in shares of Charles Schwab by 62.5% during the fourth quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after acquiring an additional 8,563,389 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Charles Schwab by 26.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after purchasing an additional 6,195,934 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Charles Schwab by 91,051.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,365,193 shares of the financial services provider’s stock worth $446,706,000 after purchasing an additional 5,359,307 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Charles Schwab by 186.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock worth $390,234,000 after purchasing an additional 4,624,302 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

SCHW stock traded up $0.01 during midday trading on Thursday, hitting $72.39. The company’s stock had a trading volume of 3,946,907 shares, compared to its average volume of 7,774,176. The stock’s 50-day moving average price is $65.43 and its 200 day moving average price is $61.18. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The stock has a market cap of $128.38 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.37 and a beta of 1.00. The Charles Schwab Co. has a 1 year low of $45.65 and a 1 year high of $72.94.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.49 billion. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 earnings per share. On average, equities analysts forecast that The Charles Schwab Co. will post 3.33 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. Charles Schwab’s dividend payout ratio is presently 39.37%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SCHW. The Goldman Sachs Group reissued a “neutral” rating and set a $71.00 target price (up previously from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Redburn Atlantic started coverage on shares of Charles Schwab in a research report on Friday, December 1st. They set a “sell” rating and a $52.00 price objective for the company. Citigroup lowered shares of Charles Schwab from a “buy” rating to a “neutral” rating and decreased their target price for the company from $75.00 to $70.00 in a report on Wednesday, January 10th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, UBS Group lifted their price objective on shares of Charles Schwab from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average price target of $71.12.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $70.87, for a total value of $637,830.00. Following the completion of the transaction, the director now directly owns 581,457 shares in the company, valued at approximately $41,207,857.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, CFO Peter B. Crawford sold 4,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total value of $257,960.00. Following the sale, the chief financial officer now directly owns 37,611 shares in the company, valued at approximately $2,425,533.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.87, for a total transaction of $637,830.00. Following the completion of the transaction, the director now directly owns 581,457 shares in the company, valued at approximately $41,207,857.59. The disclosure for this sale can be found here. Insiders sold 216,584 shares of company stock worth $14,200,769 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

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.