SNS Financial Group LLC Sells 340 Shares of The Charles Schwab Co. (NYSE:SCHW)

SNS Financial Group LLC decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 10.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,041 shares of the financial services provider’s stock after selling 340 shares during the period. SNS Financial Group LLC’s holdings in Charles Schwab were worth $225,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SCHW. Franklin Resources Inc. lifted its position in shares of Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after purchasing an additional 3,157,923 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares during the last quarter. AustralianSuper Pty Ltd lifted its holdings in Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after buying an additional 1,644,931 shares in the last quarter. KBC Group NV lifted its stake in shares of Charles Schwab by 186.7% during the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock valued at $158,236,000 after acquiring an additional 1,392,255 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in Charles Schwab during the 3rd quarter valued at about $86,845,000. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction dated Wednesday, January 22nd. The shares were 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. Over the last ninety days, insiders sold 490,120 shares of company stock valued at $40,127,472. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of analyst reports. UBS Group increased their price target on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Morgan Stanley increased their target price on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. raised their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Finally, Truist Financial increased their price target on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.33.

Charles Schwab Price Performance

Shares of SCHW opened at $81.88 on Friday. The company has a 50 day moving average of $77.97 and a 200-day moving average of $72.83. 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 stock has a market capitalization of $145.84 billion, a P/E ratio of 27.38, a P/E/G ratio of 0.99 and a beta of 0.99. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50.

Charles Schwab (NYSE:SCHW) last released its 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. 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 last year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is presently 36.12%.

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.