Jefferies Financial Group Inc. Sells 24,705 Shares of The Charles Schwab Co. (NYSE:SCHW)

Jefferies Financial Group Inc. reduced its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 75.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,921 shares of the financial services provider’s stock after selling 24,705 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Charles Schwab were worth $586,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Charles Schwab by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock valued at $9,516,075,000 after acquiring an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC lifted its position in Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock worth $2,279,742,000 after buying an additional 760,043 shares during the last quarter. Fisher Asset Management LLC lifted its position in Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after buying an additional 265,708 shares during the last quarter. Norges Bank bought a new stake in Charles Schwab in the fourth quarter worth $1,289,544,000. Finally, Northern Trust Corp lifted its position in Charles Schwab by 13.4% in the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider’s stock worth $1,164,911,000 after buying an additional 1,864,286 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Activity

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the transaction, the director now owns 172,162 shares in the company, valued at $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the transaction, the insider now owns 57,818 shares in the company, valued at $4,586,123.76. This trade represents a 5.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,735 shares of company stock worth $8,867,382. Company insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $87.65 on Friday. The firm has a market cap of $159.25 billion, a P/E ratio of 29.31, a P/E/G ratio of 0.99 and a beta of 0.90. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $89.85. The stock’s fifty day moving average price is $80.68 and its 200-day moving average price is $79.30.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion for 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 quarter last year, the firm posted $0.74 earnings per share. On average, equities research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.23%. Charles Schwab’s dividend payout ratio is currently 32.73%.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of analyst reports. Barclays lowered their price target on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Truist Financial raised their price target on Charles Schwab from $84.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. JMP Securities restated a “market outperform” rating and issued a $94.00 price target on shares of Charles Schwab in a research report on Monday, April 21st. Piper Sandler raised their price target on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group upgraded Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and an average target price of $89.63.

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.