Amundi Reduces Holdings in The Charles Schwab Co. (NYSE:SCHW)

Amundi reduced its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 23.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,651,557 shares of the financial services provider’s stock after selling 1,434,301 shares during the quarter. Amundi owned approximately 0.26% of Charles Schwab worth $339,565,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. increased its holdings in 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 in the last quarter. Capital Performance Advisors LLP purchased a new position in Charles Schwab during the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC purchased a new position in Charles Schwab during the 3rd quarter valued at about $31,000. Planning Capital Management Corp purchased a new position in Charles Schwab during the 3rd quarter valued at about $33,000. Finally, Peterson Financial Group Inc. purchased a new position in Charles Schwab during the 3rd quarter valued at about $35,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

SCHW opened at $74.58 on Friday. The company’s 50 day simple moving average is $78.50 and its 200 day simple moving average is $73.99. 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 Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The stock has a market capitalization of $135.25 billion, a PE ratio of 24.94, a P/E/G ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last announced its quarterly 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. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 earnings per share. As a group, sell-side analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 1.45%. 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 payout ratio is 36.12%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SCHW shares. 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 report on Wednesday, January 22nd. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Piper Sandler lifted their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley lifted their price target on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $94.00 price target (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Two equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $86.33.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the transaction, the insider now directly owns 57,818 shares of the company’s stock, valued at approximately $4,586,123.76. The trade was a 5.52 % decrease in their ownership of the stock. 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 transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders have sold a total of 501,087 shares of company stock valued at $40,952,233 over the last ninety days. 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.