WNY Asset Management LLC has sold its interest in The Charles Schwab Co. (NYSE:SCHW – Free Report) fell 2.8% in the fourth quarter, the company said in its most recent Form 13F filing with the SEC. The company owned 10,327 shares of the financial services company, after selling 302 shares during the quarter. WNY Asset Management LLC’s stakes in Charles Schwab were worth $710,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SCHW. Johnson Investment Counsel Inc. increased its stake in shares of Charles Schwab by 1.9% in the third quarter. Johnson Investment Counsel Inc. now owns 31,258 shares of the financial services company worth $1,716,000 after purchasing an additional 580 shares in the last quarter. QRG Capital Management Inc. bought a new position in Charles Schwab worth $4,930,000 during the third quarter. Envestnet Portfolio Solutions Inc. bought a new position in Charles Schwab during the third quarter worth $5,766,000. Envestnet Asset Management Inc. increased its stake in shares of Charles Schwab by 35.3% in the third quarter. Envestnet Asset Management Inc. now owns 4,376,517 shares of the financial services provider’s stock worth $240,271,000 after acquiring an additional 1,141,303 shares during the period. Finally, Coombe Bender & Co LLC increased its holdings in shares of Charles Schwab by 4.1% in the third quarter. Coombe Bender & Co LLC now owns 41,489 shares of the financial services provider’s stock valued at $2,278,000 after acquiring an additional 1,642 shares in the last quarter. 84.38% of the shares are owned by hedge funds and other institutional investors.

Wall Street analysts predict growth

A number of equity research analysts have recently commented on SCHW stock. Barclays raised their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equalweight” rating in a research report on Tuesday, April 16. Piper Sandler lifted their price target on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 12. Deutsche Bank Aktiengesellschaft lowered their price objective on Charles Schwab from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, May 23. StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, TD Cowen lowered their price target on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, May 23. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of ‘Hold’ and a consensus price target of $74.65.

Check out our latest research report on SCHW

Insider buying and selling at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction dated Tuesday, April 16. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Charles Schwab news, insider Jonathan M. Craig sold 4,977 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock sold at an average price of $70.01, for a total transaction of $348,439.77. Following the completion of the sale, the insider now owns 81,446 shares of the company’s stock, valued at $5,702,034.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 24,520 shares of the company’s stock in a transaction dated Tuesday, April 16. The stock sold at an average price of $72.23, for a total value of $1,771,079.60. The explanation of this sale can be found here. Insiders have sold 663,640 shares of the company worth $49,331,005 in the last 90 days. 6.60% of the shares are owned by company insiders.

Charles Schwab stock performance

Shares of NYSE SCHW opened at $73.25 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $130.19 billion, a price-to-earnings ratio of 30.65, a price-to-earnings growth ratio of 1.12, and a beta of 0.96. The company has a 50-day simple moving average of $74.14 and a 200-day simple moving average of $68.97. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49.

Charles Schwab (NYSE:SCHW – Get Free Report) posted its latest quarterly results on Monday, April 15. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. On average, stock analysts expect The Charles Schwab Co. will post earnings per share of 3.26 for the current year.

Dividend announcement from Charles Schwab

The company also recently declared a quarterly dividend, which was paid on Friday, May 24. A dividend of $0.25 was paid to known shareholders on Friday, May 10. This represents a $1.00 annualized dividend and a 1.37% yield. The ex-dividend date of this dividend was Thursday, May 9. Charles Schwab’s payout ratio is 41.84%.

About Charles Schwab

(Free report)

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company providing asset 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.

Also see

Would you like to see which other hedge funds own SCHW? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for The Charles Schwab Co. (NYSE:SCHW – Free Report).

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