Retirement Planning Co of New England Inc. Sells 733 Shares of The Charles Schwab Co. (NYSE:SCHW)

Retirement Planning Co of New England Inc. reduced its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 16.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,862 shares of the financial services provider’s stock after selling 733 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Charles Schwab were worth $286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SCHW. Prospera Private Wealth LLC bought a new stake in shares of Charles Schwab during the 3rd quarter worth approximately $31,000. Atala Financial Inc bought a new stake in Charles Schwab during the 4th quarter valued at $41,000. Knuff & Co LLC raised its position in Charles Schwab by 1,309.3% during the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 563 shares in the last quarter. Financial Life Planners bought a new stake in Charles Schwab during the 4th quarter valued at $46,000. Finally, Whipplewood Advisors LLC bought a new stake in Charles Schwab during the 4th quarter valued at $46,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Truist Financial lifted their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Redburn Partners decreased their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Jefferies Financial Group lifted their target price on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $86.33.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 9,887 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the sale, the insider now owns 47,931 shares of the company’s stock, valued at $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. Insiders sold 501,087 shares of company stock valued at $40,952,233 over the last quarter. 6.60% of the stock is currently owned by insiders.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $77.80 on Tuesday. The business has a 50 day simple moving average of $78.54 and a two-hundred day simple moving average of $74.48. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The stock has a market capitalization of $141.10 billion, a P/E ratio of 26.02, a PEG ratio of 0.99 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last announced its 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. 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 during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. As a group, analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost 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.