Steel Grove Capital Advisors LLC Sells 229 Shares of The Charles Schwab Co. (NYSE:SCHW)

Steel Grove Capital Advisors LLC decreased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,900 shares of the financial services provider’s stock after selling 229 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Charles Schwab were worth $406,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Charles Schwab during the 4th quarter valued at about $1,325,555,000. Morgan Stanley lifted its position in shares of Charles Schwab by 62.5% in the fourth quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after buying an additional 8,563,389 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Charles Schwab by 26.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after buying an additional 6,195,934 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Charles Schwab by 91,051.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,365,193 shares of the financial services provider’s stock valued at $446,706,000 after buying an additional 5,359,307 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Charles Schwab by 186.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock worth $390,234,000 after acquiring an additional 4,624,302 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 0.0 %

SCHW stock traded up $0.01 during midday trading on Thursday, reaching $72.39. The company’s stock had a trading volume of 3,946,907 shares, compared to its average volume of 7,774,176. The firm has a market capitalization of $128.38 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.37 and a beta of 1.00. The Charles Schwab Co. has a 1 year low of $45.65 and a 1 year high of $72.94. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a fifty day simple moving average of $65.43 and a two-hundred day simple moving average of $61.18.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.49 billion. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The firm’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter last year, the business posted $1.07 EPS. On average, equities research analysts predict that The Charles Schwab Co. will post 3.33 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.37%.

Insiders Place Their Bets

In related news, Chairman Charles R. Schwab sold 16,390 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $63.94, for a total value of $1,047,976.60. Following the completion of the transaction, the chairman now owns 61,331,688 shares of the company’s stock, valued at $3,921,548,130.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Peter B. Crawford sold 4,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the completion of the sale, the chief financial officer now owns 37,611 shares of the company’s stock, valued at $2,425,533.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 16,390 shares of Charles Schwab stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the completion of the transaction, the chairman now directly owns 61,331,688 shares in the company, valued at $3,921,548,130.72. The disclosure for this sale can be found here. Insiders have sold a total of 216,584 shares of company stock worth $14,200,769 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on SCHW shares. JMP Securities reiterated a “market outperform” rating and set a $77.00 target price on shares of Charles Schwab in a research report on Thursday, January 18th. Barclays increased their price objective on shares of Charles Schwab from $64.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Citigroup downgraded shares of Charles Schwab from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $75.00 to $70.00 in a report on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, TD Cowen upgraded Charles Schwab from a “market perform” rating to an “outperform” rating and set a $87.00 price target for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.12.

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.