The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC lessened its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.5% in the 4th quarter, HoldingsChannel reports. The fund owned 47,721 shares of the financial services provider’s stock after selling 220 shares during the period. Charles Schwab accounts for about 1.4% of Malaga Cove Capital LLC’s portfolio, making the stock its 17th biggest holding. Malaga Cove Capital LLC’s holdings in Charles Schwab were worth $3,532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. Trust Co. of Toledo NA OH grew its holdings in Charles Schwab by 13.5% during the 4th quarter. Trust Co. of Toledo NA OH now owns 7,007 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 835 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in Charles Schwab by 6.2% during the 4th quarter. Capital Investment Advisors LLC now owns 7,027 shares of the financial services provider’s stock worth $520,000 after acquiring an additional 412 shares in the last quarter. Wedmont Private Capital grew its holdings in Charles Schwab by 13.7% during the 4th quarter. Wedmont Private Capital now owns 14,568 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 1,751 shares in the last quarter. Cooper Financial Group grew its holdings in Charles Schwab by 12.6% during the 4th quarter. Cooper Financial Group now owns 13,950 shares of the financial services provider’s stock worth $1,032,000 after acquiring an additional 1,566 shares in the last quarter. Finally, Eastern Bank boosted its holdings in shares of Charles Schwab by 37.2% in the 4th quarter. Eastern Bank now owns 2,317 shares of the financial services provider’s stock valued at $171,000 after buying an additional 628 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SCHW. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Redburn Partners lowered their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. Truist Financial lowered their target price on shares of Charles Schwab from $85.00 to $84.00 and set a “buy” rating for the company in a report on Monday, April 21st. Wells Fargo & Company lowered their target price on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.61.

Charles Schwab Stock Up 1.0%

SCHW stock opened at $86.21 on Wednesday. The company has a fifty day moving average price of $77.86 and a 200 day moving average price of $78.08. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $87.00. The company has a market cap of $156.35 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. 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 announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter in the prior year, the firm earned $0.74 EPS. Sell-side analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.25%. Charles Schwab’s payout ratio is currently 32.73%.

Insiders Place Their Bets

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the transaction, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan M. Craig sold 9,559 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $82.00, for a total transaction of $783,838.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,412 shares of company stock worth $3,014,797. 6.30% of the stock is owned by 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.