The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,409 shares of the financial services provider’s stock after selling 1,601 shares during the quarter. Hartford Investment Management Co.’s holdings in Charles Schwab were worth $6,839,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SCHW. Exchange Traded Concepts LLC increased its stake in shares of Charles Schwab by 78.9% during 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 acquiring an additional 8,721 shares during the last quarter. CHICAGO TRUST Co NA increased its position in Charles Schwab by 10.6% during the third quarter. CHICAGO TRUST Co NA now owns 3,353 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 320 shares during the last quarter. Sound Income Strategies LLC increased its position in Charles Schwab by 682.4% during the third quarter. Sound Income Strategies LLC now owns 1,064 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 928 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Charles Schwab by 71.6% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,820 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 2,429 shares during the period. Finally, Procyon Advisors LLC boosted its holdings in shares of Charles Schwab by 5.4% in the 3rd quarter. Procyon Advisors LLC now owns 3,437 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $83.51 on Wednesday. The company’s fifty day moving average price is $77.99 and its two-hundred day moving average price is $71.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $148.61 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 19.5% compared to the same quarter last year. On average, research analysts anticipate that The Charles Schwab Co. will post 4.18 earnings per share 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 paid a dividend of $0.27 per share. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio is 33.44%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the sale, the insider now directly owns 59,092 shares in the company, valued at $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. Over the last quarter, insiders sold 47,514 shares of company stock valued at $3,859,731. 6.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SCHW shares. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. raised their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Morgan Stanley increased their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group lifted their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.56.

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.