North Reef Capital Management LP Sells 225,000 Shares of The Charles Schwab Co. (NYSE:SCHW)

North Reef Capital Management LP lessened its stake in The Charles Schwab Co. (NYSE:SCHW) by 37.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 374,999 shares of the financial services provider’s stock after selling 225,000 shares during the quarter. Charles Schwab comprises 1.2% of North Reef Capital Management LP’s investment portfolio, making the stock its 19th biggest position. North Reef Capital Management LP’s holdings in Charles Schwab were worth $27,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Merit Financial Group LLC lifted its holdings in shares of Charles Schwab by 230.1% in the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after acquiring an additional 23,383 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC bought a new stake in Charles Schwab during the 4th quarter worth $688,000. Golden State Equity Partners raised its position in Charles Schwab by 293.9% in the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after purchasing an additional 9,108 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Charles Schwab by 7.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider’s stock worth $47,674,000 after purchasing an additional 43,308 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SCHW. Barclays reduced their target price on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. increased their price target on Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. JMP Securities restated a “market outperform” rating and issued a $94.00 target price on shares of Charles Schwab in a report on Monday. Finally, Piper Sandler lifted their price objective on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.78.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, the director now owns 172,162 shares of the company’s stock, valued at approximately $12,784,750.12. The trade was a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 3,380 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.43, for a total transaction of $261,713.40. Following the sale, the insider now owns 45,824 shares of the company’s stock, valued at approximately $3,548,152.32. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 493,482 shares of company stock worth $40,288,720 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Up 1.9 %

SCHW opened at $79.36 on Friday. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. 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 company’s 50-day moving average is $76.85 and its 200 day moving average is $76.85. The firm has a market capitalization of $143.92 billion, a P/E ratio of 26.54, a PEG ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same quarter in the previous year, the business earned $0.74 EPS. Research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.36%. Charles Schwab’s dividend payout ratio is presently 32.73%.

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.