Yacktman Asset Management LP Sells 530,211 Shares of The Charles Schwab Co. (NYSE:SCHW)

Yacktman Asset Management LP lowered its stake in The Charles Schwab Co. (NYSE:SCHW) by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,874,070 shares of the financial services provider’s stock after selling 530,211 shares during the period. Charles Schwab makes up approximately 4.2% of Yacktman Asset Management LP’s holdings, making the stock its 5th biggest position. Yacktman Asset Management LP owned about 0.27% of Charles Schwab worth $360,730,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SCHW. Brookstone Capital Management lifted its position in shares of Charles Schwab by 5.2% during the 3rd quarter. Brookstone Capital Management now owns 8,468 shares of the financial services provider’s stock worth $549,000 after purchasing an additional 422 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Charles Schwab by 78.9% during the third quarter. Exchange Traded Concepts LLC now owns 19,773 shares of the financial services provider’s stock worth $1,281,000 after buying an additional 8,721 shares during the last quarter. CHICAGO TRUST Co NA boosted its position in shares of Charles Schwab by 10.6% in the third quarter. CHICAGO TRUST Co NA now owns 3,353 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 320 shares during the period. Sound Income Strategies LLC increased its position in Charles Schwab by 682.4% during the third quarter. Sound Income Strategies LLC now owns 1,064 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 928 shares during the period. Finally, Oliver Luxxe Assets LLC raised its stake in Charles Schwab by 4.0% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,468 shares of the financial services provider’s stock valued at $2,428,000 after purchasing an additional 1,432 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares of the company’s stock, valued at $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were 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 47,514 shares of company stock worth $3,859,731 over the last 90 days. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Performance

Charles Schwab stock opened at $81.13 on Tuesday. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.04. The stock has a 50-day simple moving average of $78.00 and a 200 day simple moving average of $71.88. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $144.38 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 1.02 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. On average, research analysts anticipate that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 33.44%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Redburn Partners cut their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Cowen lifted their price objective on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. raised their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. JMP Securities restated a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Bank of America decreased their target price on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $84.50.

About Charles Schwab

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.