Sequoia Financial Advisors LLC Sells 5,945 Shares of The Charles Schwab Co. (NYSE:SCHW)

Sequoia Financial Advisors LLC lessened its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 321,796 shares of the financial services provider’s stock after selling 5,945 shares during the period. Sequoia Financial Advisors LLC’s holdings in Charles Schwab were worth $23,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab during the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC purchased a new stake in Charles Schwab in the third quarter valued at approximately $31,000. Planning Capital Management Corp bought a new stake in Charles Schwab during the third quarter valued at approximately $33,000. Peterson Financial Group Inc. purchased a new position in Charles Schwab in the 3rd quarter worth approximately $35,000. Finally, Financial Life Planners bought a new position in shares of Charles Schwab in the 4th quarter worth $46,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 9,887 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the transaction, the insider now owns 47,931 shares in the company, valued at approximately $3,613,038.78. This trade represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 501,087 shares of company stock valued at $40,952,233. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

SCHW opened at $72.58 on Wednesday. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The company has a market cap of $131.63 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $78.42 and a two-hundred day simple moving average of $74.16.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. Research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.27 per share. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.49%. Charles Schwab’s dividend payout ratio is presently 36.12%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SCHW. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $88.00 to $103.00 in a report on Tuesday, February 18th. Piper Sandler upped their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. UBS Group raised their price objective on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $86.33.

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.