Thoroughbred Financial Services LLC Decreases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Thoroughbred Financial Services LLC lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,662 shares of the financial services provider’s stock after selling 251 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Charles Schwab were worth $789,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SCHW. Murphy & Mullick Capital Management Corp purchased a new stake in Charles Schwab during the 4th quarter valued at $38,000. Atala Financial Inc bought a new position in Charles Schwab in the fourth quarter valued at about $41,000. Knuff & Co LLC boosted its position in Charles Schwab by 1,309.3% in the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 563 shares during the last quarter. Financial Life Planners bought a new stake in shares of Charles Schwab during the 4th quarter valued at about $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Charles Schwab during the 4th quarter valued at about $46,000. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Down 7.7 %

SCHW opened at $69.07 on Friday. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a 50-day simple moving average of $79.09 and a two-hundred day simple moving average of $75.81. The company has a market capitalization of $125.26 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 earnings per share. Analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.56%. Charles Schwab’s dividend payout ratio is presently 36.12%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays boosted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Morgan Stanley upped their price objective on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Finally, Truist Financial lowered their price objective on Charles Schwab from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.94.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Monday, March 3rd. The stock was 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 $4,586,123.76. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock worth $41,903,066 over the last 90 days. 6.60% of the stock is owned by insiders.

Charles Schwab 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.