Highland Capital Management LLC Sells 2,961 Shares of The Charles Schwab Co. (NYSE:SCHW)

Highland Capital Management LLC reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,715 shares of the financial services provider’s stock after selling 2,961 shares during the period. Highland Capital Management LLC’s holdings in Charles Schwab were worth $6,929,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Kozak & Associates Inc. boosted its stake in Charles Schwab by 24.3% in the fourth quarter. Kozak & Associates Inc. now owns 124,186 shares of the financial services provider’s stock worth $7,986,000 after purchasing an additional 24,307 shares in the last quarter. Roberts Wealth Advisors LLC raised its position in shares of Charles Schwab by 1.1% during the fourth quarter. Roberts Wealth Advisors LLC now owns 20,456 shares of the financial services provider’s stock worth $1,407,000 after acquiring an additional 220 shares during the last quarter. Trust Co of the South bought a new stake in Charles Schwab in the fourth quarter valued at about $245,000. Schechter Investment Advisors LLC increased its holdings in Charles Schwab by 80.1% in the fourth quarter. Schechter Investment Advisors LLC now owns 11,650 shares of the financial services provider’s stock valued at $802,000 after purchasing an additional 5,181 shares during the last quarter. Finally, Harrington Investments INC increased its holdings in Charles Schwab by 1.4% in the fourth quarter. Harrington Investments INC now owns 53,728 shares of the financial services provider’s stock valued at $3,696,000 after purchasing an additional 761 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Raymond James reduced their price objective on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, January 18th. TD Cowen raised Charles Schwab from a “market perform” rating to an “outperform” rating and set a $87.00 price target for the company in a report on Friday, March 22nd. Citigroup cut Charles Schwab from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $75.00 to $70.00 in a report on Wednesday, January 10th. Keefe, Bruyette & Woods cut Charles Schwab from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $75.00 to $70.00 in a report on Thursday, January 18th. Finally, UBS Group boosted their price target on Charles Schwab from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.12.

Charles Schwab Price Performance

NYSE SCHW opened at $72.41 on Thursday. The company has a market cap of $128.42 billion, a PE ratio of 28.51, a P/E/G ratio of 1.37 and a beta of 1.00. The Charles Schwab Co. has a 52-week low of $45.65 and a 52-week 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 firm’s 50 day moving average price is $65.43 and its 200-day moving average price is $61.18.

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

Charles Schwab Dividend Announcement

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

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.87, for a total value of $637,830.00. Following the completion of the sale, the director now owns 581,457 shares in the company, valued at approximately $41,207,857.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $70.87, for a total transaction of $637,830.00. Following the completion of the transaction, the director now owns 581,457 shares in the company, valued at $41,207,857.59. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jonathan M. Craig sold 4,977 shares of Charles Schwab stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the sale, the insider now owns 81,446 shares of the company’s stock, valued at $5,702,034.46. The disclosure for this sale can be found here. Insiders have sold 216,584 shares of company stock valued at $14,200,769 in the last ninety days. Insiders own 6.60% of the company’s stock.

Charles Schwab 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.