The Charles Schwab Co. (NYSE:SCHW) Stock Position Reduced by Redmond Asset Management LLC

Redmond Asset Management LLC lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 5.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 98,828 shares of the financial services provider’s stock after selling 6,151 shares during the quarter. Charles Schwab makes up approximately 1.8% of Redmond Asset Management LLC’s holdings, making the stock its 10th largest position. Redmond Asset Management LLC’s holdings in Charles Schwab were worth $7,314,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Merit Financial Group LLC grew its holdings in shares of Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after buying an additional 5,937 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in shares of Charles Schwab during the fourth quarter worth about $688,000. Finally, Golden State Equity Partners grew its holdings in shares of Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after buying an additional 9,108 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and raised their price objective for the company from $88.00 to $103.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Barclays raised their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Price Performance

SCHW stock opened at $80.50 on Friday. The firm has a 50 day moving average of $77.98 and a 200-day moving average of $72.95. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $143.38 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 0.99 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping 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 analysts’ expectations of $5.19 billion. During the same period last year, the company posted $0.68 EPS. The company’s revenue was up 19.5% on a year-over-year basis. As a group, equities analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.34%. 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. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 of the company’s stock, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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. Insiders sold a total of 490,120 shares of company stock valued at $40,127,472 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.

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.