Ninety One North America Inc. Sells 75,831 Shares of The Charles Schwab Co. (NYSE:SCHW)

Posted by Ethan Ryder on Apr 18th, 2024

Ninety One North America Inc. cut its stake in The Charles Schwab Co. (NYSE:SCHW – make up astor skin match
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weight:normal;text-decoration:italic;color:green” href=”https://www.marketbeat.com/arnreports/ReportTickerOptin.aspx?RegistrationCode=TickerHyperlink&Prefix=NYSE&Symbol=SCHW”>Free Report) by 10.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 666,228 shares of the financial services provider’s stock after selling 75,831 shares during the quarter. Charles Schwab accounts for 2.2% of Ninety One North America Inc.’s holdings, making the stock its 21st biggest position. Ninety One North America Inc.’s holdings in Charles Schwab were worth $45,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of SCHW. Providence Capital Advisors LLC bought a new stake in Charles Schwab during the 3rd quarter worth approximately $28,000. Sugarloaf Wealth Management LLC increased its stake in Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 165 shares in the last quarter. Worth Asset Management LLC bought a new stake in Charles Schwab during the 1st quarter worth approximately $32,000. BluePath Capital Management LLC bought a new stake in Charles Schwab during the 3rd quarter worth approximately $34,000. Finally, Hall Laurie J Trustee bought a new position in shares of Charles Schwab during the 4th quarter worth approximately $34,000. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Up 1.1 %

Shares of SCHW stock traded up $0.80 during mid-day trading on Thursday, reaching $73.30. 3,377,991 shares of the stock traded hands, compared to its average volume of 7,689,125. The stock’s fifty day simple moving average is $68.17 and its two-hundred day simple moving average is $62.82. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $73.88. The company has a market cap of $130.19 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82.

Charles Schwab (NYSE:SCHW – Get Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period in the previous year, the firm earned $1.07 earnings per share. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. On average, research analysts anticipate that The Charles Schwab Co. will post 3.41 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. Charles Schwab’s dividend payout ratio is 41.84%.

Insider Activity

In other news, Chairman Charles R. Schwab sold 71,226 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the completion of the sale, the chairman now directly owns 61,251,038 shares of the company’s stock, valued at approximately $3,980,704,959.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Charles Schwab news, CFO Peter B. Crawford sold 4,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $64.49, for a total value of $257,960.00. Following the sale, the chief financial officer now owns 37,611 shares of the company’s stock, valued at approximately $2,425,533.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 71,226 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.99, for a total value of $4,628,977.74. Following the transaction, the chairman now directly owns 61,251,038 shares in the company, valued at $3,980,704,959.62. The disclosure for this sale can be found here. Insiders sold a total of 216,584 shares of company stock worth $14,200,769 over the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a research note on Tuesday. Barclays raised their price target on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Bank of America raised their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.47.

Read Our Latest Stock Analysis on SCHW

About Charles Schwab

(Free Report)

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.

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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