Van ECK Associates Corp Sells 26,849 Shares of The Charles Schwab Co. (NYSE:SCHW)

Van ECK Associates Corp cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,205,887 shares of the financial services provider’s stock after selling 26,849 shares during the period. Van ECK Associates Corp owned 0.18% of Charles Schwab worth $237,268,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SCHW. Exchange Traded Concepts LLC boosted its holdings in shares of Charles Schwab by 78.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 19,773 shares of the financial services provider’s stock valued at $1,281,000 after buying an additional 8,721 shares in the last quarter. Procyon Advisors LLC raised its stake in Charles Schwab by 5.4% in the third quarter. Procyon Advisors LLC now owns 3,437 shares of the financial services provider’s stock valued at $222,000 after buying an additional 176 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Charles Schwab during the third quarter worth $41,000. Creative Planning lifted its holdings in shares of Charles Schwab by 18.3% during the third quarter. Creative Planning now owns 511,376 shares of the financial services provider’s stock worth $31,891,000 after purchasing an additional 79,166 shares during the period. Finally, Swedbank AB boosted its holdings in Charles Schwab by 3.7% in the third quarter. Swedbank AB now owns 605,261 shares of the financial services provider’s stock valued at $39,227,000 after purchasing an additional 21,699 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on SCHW shares. UBS Group boosted their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Jefferies Financial Group increased their price objective on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Redburn Partners lowered their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Truist Financial boosted their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley increased their price objective on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $84.56.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the transaction, the insider now directly owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. This trade represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,514 shares of company stock valued at $3,859,731 in the last ninety days. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 1.0 %

SCHW stock opened at $82.37 on Thursday. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The company’s 50 day moving average price is $78.04 and its 200 day moving average price is $72.11. The firm has a market capitalization of $146.59 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping 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 business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm earned $0.68 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts anticipate that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.31%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio is presently 33.44%.

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.