The Charles Schwab Co. (NYSE:SCHW) Shares Sold by WNY Asset Management LLC

WNY Asset Management LLC decreased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 13.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,818 shares of the financial services provider’s stock after selling 1,032 shares during the quarter. WNY Asset Management LLC’s holdings in Charles Schwab were worth $505,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Mackenzie Financial Corp raised its holdings in Charles Schwab by 5.2% in the 4th quarter. Mackenzie Financial Corp now owns 495,524 shares of the financial services provider’s stock worth $36,674,000 after purchasing an additional 24,677 shares during the period. Forum Financial Management LP raised its holdings in Charles Schwab by 13.5% in the 4th quarter. Forum Financial Management LP now owns 19,636 shares of the financial services provider’s stock worth $1,453,000 after purchasing an additional 2,336 shares during the period. Michels Family Financial LLC acquired a new position in Charles Schwab in the 4th quarter worth about $525,000. North Star Asset Management Inc. raised its holdings in Charles Schwab by 0.5% in the 4th quarter. North Star Asset Management Inc. now owns 501,260 shares of the financial services provider’s stock worth $37,098,000 after purchasing an additional 2,346 shares during the period. Finally, WCG Wealth Advisors LLC raised its holdings in Charles Schwab by 6.1% in the 4th quarter. WCG Wealth Advisors LLC now owns 84,847 shares of the financial services provider’s stock worth $6,280,000 after purchasing an additional 4,878 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the transaction, the director now directly owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,088 shares of company stock worth $8,105,928. Company insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of analyst reports. The Goldman Sachs Group raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, April 25th. UBS Group increased their target price on Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 22nd. Cowen reissued a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their target price on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $89.63.

Charles Schwab Price Performance

SCHW stock opened at $87.44 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The business has a 50 day simple moving average of $79.97 and a 200-day simple moving average of $79.02. The firm has a market capitalization of $158.88 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $89.85.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the prior year, the business earned $0.74 earnings per share. Equities research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.24%. Charles Schwab’s payout ratio is 32.73%.

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.