Hartford Investment Management Co. decreased its position in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,409 shares of the financial services provider’s stock after selling 1,601 shares during the quarter. Hartford Investment Management Co.’s holdings in Charles Schwab were worth $6,839,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. increased its stake in Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Charles Schwab in the 3rd quarter valued at $25,000. Prospera Private Wealth LLC acquired a new stake in Charles Schwab during the 3rd quarter worth $31,000. Hazlett Burt & Watson Inc. purchased a new stake in Charles Schwab in the third quarter valued at $33,000. Finally, Planning Capital Management Corp purchased a new stake in Charles Schwab in the third quarter valued at $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.
Charles Schwab Price Performance
Charles Schwab stock opened at $83.51 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The company has a market cap of $148.61 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The business has a fifty day moving average of $77.99 and a two-hundred day moving average of $71.99.
Charles Schwab Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.27 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 33.44%.
Analyst Ratings Changes
A number of research firms have recently commented on SCHW. Truist Financial lifted their target price on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group upped their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Raymond James dropped their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Finally, Piper Sandler increased their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $84.56.
View Our Latest Research Report on Charles Schwab
Insider Activity at Charles Schwab
In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the sale, the director now owns 442,807 shares in the company, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the transaction, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,514 shares of company stock valued at $3,859,731 in the last ninety days. Corporate insiders own 6.60% of the company’s stock.
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.
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