Rathbones Group PLC Sells 1,009,332 Shares of The Charles Schwab Co. (NYSE:SCHW)

Rathbones Group PLC decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 93.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 69,415 shares of the financial services provider’s stock after selling 1,009,332 shares during the period. Rathbones Group PLC’s holdings in Charles Schwab were worth $5,137,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock worth $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Charles Schwab by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock valued at $2,279,742,000 after acquiring an additional 760,043 shares during the period. Franklin Resources Inc. grew its position in shares of Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after purchasing an additional 265,708 shares during the period. Finally, Norges Bank acquired a new position in shares of Charles Schwab during the 4th quarter worth about $1,289,544,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Truist Financial reduced their price target on shares of Charles Schwab from $91.00 to $85.00 and set a “buy” rating for the company in a report on Friday. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Jefferies Financial Group increased their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, UBS Group boosted 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $86.28.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $69.97 on Tuesday. The business has a fifty day moving average of $78.84 and a 200-day moving average of $75.93. The firm has a market cap of $126.90 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. 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 quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. Charles Schwab’s revenue was up 19.5% compared to the same quarter last year. On average, equities research 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 declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.27 dividend. This is a boost 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 annualized dividend and a yield of 1.54%. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 513,081 shares of company stock valued at $41,903,066. 6.60% of the stock is currently owned by insiders.

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.