Resonant Capital Advisors LLC Lowers Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Resonant Capital Advisors LLC lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 31,659 shares of the financial services provider’s stock after selling 914 shares during the period. Resonant Capital Advisors LLC’s holdings in Charles Schwab were worth $2,178,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Lafayette Investments Inc. lifted its position in Charles Schwab by 2.1% in the fourth quarter. Lafayette Investments Inc. now owns 95,972 shares of the financial services provider’s stock worth $6,603,000 after buying an additional 1,997 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Charles Schwab in the 4th quarter worth about $407,000. Western Wealth Management LLC boosted its stake in shares of Charles Schwab by 15.2% during the 4th quarter. Western Wealth Management LLC now owns 11,375 shares of the financial services provider’s stock worth $783,000 after purchasing an additional 1,499 shares during the period. Gray Wealth Management Inc. grew its holdings in Charles Schwab by 6.5% during the 4th quarter. Gray Wealth Management Inc. now owns 4,552 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 278 shares during the last quarter. Finally, Xponance Inc. raised its position in Charles Schwab by 8.4% in the 4th quarter. Xponance Inc. now owns 192,922 shares of the financial services provider’s stock worth $13,273,000 after purchasing an additional 14,972 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Up 0.6 %

Shares of SCHW traded up $0.43 during midday trading on Friday, hitting $73.36. 5,655,432 shares of the company’s stock traded hands, compared to its average volume of 7,724,378. The Charles Schwab Co. has a 1 year low of $45.65 and a 1 year high of $73.88. The firm’s fifty day moving average is $68.38 and its 200-day moving average is $62.89. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $130.29 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01.

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 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 during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period last year, the business posted $1.07 earnings per share. The firm’s revenue was down 18.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Charles Schwab Co. will post 3.43 earnings per share for the current year.

Charles Schwab Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SCHW. JMP Securities restated a “market outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research report on Tuesday. Barclays increased their target price on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday. The Goldman Sachs Group reissued a “neutral” rating and set a $71.00 target price (up from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Piper Sandler boosted their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Three 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $74.47.

Insider Buying and Selling at Charles Schwab

In related news, CFO Peter B. Crawford sold 4,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total value of $257,960.00. Following the completion of the transaction, the chief financial officer now owns 37,611 shares in the company, valued at approximately $2,425,533.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Peter B. Crawford sold 5,482 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $73.46, for a total value of $402,707.72. Following the sale, the chief financial officer now owns 60,567 shares in the company, valued at $4,449,251.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter B. Crawford sold 4,000 shares of Charles Schwab stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total value of $257,960.00. Following the transaction, the chief financial officer now owns 37,611 shares of the company’s stock, valued at $2,425,533.39. The disclosure for this sale can be found here. In the last quarter, insiders have sold 312,800 shares of company stock worth $21,081,569. 6.60% of the stock is owned by corporate insiders.

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.