Kestra Investment Management LLC Sells 2,770 Shares of The Charles Schwab Co. (NYSE:SCHW)

Kestra Investment Management LLC lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 88.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 346 shares of the financial services provider’s stock after selling 2,770 shares during the period. Kestra Investment Management LLC’s holdings in Charles Schwab were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Atria Wealth Solutions Inc. boosted its position in shares of Charles Schwab by 9.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 33,375 shares of the financial services provider’s stock valued at $2,470,000 after acquiring an additional 2,769 shares during the period. Provident Trust Co. boosted its holdings in Charles Schwab by 7.5% in the 4th quarter. Provident Trust Co. now owns 4,646,078 shares of the financial services provider’s stock valued at $343,856,000 after purchasing an additional 322,390 shares during the period. Venturi Wealth Management LLC grew its position in shares of Charles Schwab by 40.9% during the 4th quarter. Venturi Wealth Management LLC now owns 855 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 248 shares in the last quarter. Citizens & Northern Corp increased its holdings in shares of Charles Schwab by 4.8% during the fourth quarter. Citizens & Northern Corp now owns 21,468 shares of the financial services provider’s stock worth $1,589,000 after purchasing an additional 982 shares during the period. Finally, Truist Financial Corp raised its position in shares of Charles Schwab by 3.2% in the fourth quarter. Truist Financial Corp now owns 1,901,708 shares of the financial services provider’s stock valued at $140,745,000 after buying an additional 59,361 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab 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 completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 490,120 shares of company stock valued at $40,127,472 over the last ninety days. 6.60% of the stock is owned by company insiders.

Charles Schwab Stock Performance

Charles Schwab stock opened at $80.50 on Friday. The business has a 50 day moving average of $77.98 and a 200-day moving average of $73.02. 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 Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The company has a market capitalization of $143.38 billion, a P/E ratio of 26.92, a P/E/G ratio of 0.99 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (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 firm 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 company’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid 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 is Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio is presently 36.12%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SCHW. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and increased their price target for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. UBS Group raised their price target on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Barclays upped their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Truist Financial raised their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $86.33.

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.