Grassi Investment Management Sells 900 Shares of The Charles Schwab Co. (NYSE:SCHW)

Grassi Investment Management trimmed its stake in The Charles Schwab Co. (NYSE:SCHW) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,718 shares of the financial services provider’s stock after selling 900 shares during the quarter. Grassi Investment Management’s holdings in Charles Schwab were worth $8,786,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. raised its position in shares of Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the period. Darsana Capital Partners LP grew its stake in Charles Schwab by 200.0% in the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after buying an additional 2,000,000 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after acquiring an additional 1,711,312 shares during the period. AustralianSuper Pty Ltd lifted its position in Charles Schwab by 2,617.6% during the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after acquiring an additional 1,644,931 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Charles Schwab during the third quarter worth approximately $86,845,000. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Down 0.7 %

Shares of SCHW stock traded down $0.48 on Monday, hitting $72.29. The company had a trading volume of 2,900,062 shares, compared to its average volume of 7,664,843. The Charles Schwab Co. has a twelve month low of $59.67 and a twelve month high of $83.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $128.65 billion, a P/E ratio of 28.24, a P/E/G ratio of 1.76 and a beta of 0.99. The stock’s 50-day moving average is $77.57 and its two-hundred day moving average is $70.59.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that The Charles Schwab Co. will post 3.12 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, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Insider Transactions at Charles Schwab

In other news, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the transaction, the director now owns 442,807 shares in the company, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,968 shares of company stock valued at $8,842,821. Corporate insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SCHW. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Truist Financial upgraded Charles Schwab to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley lifted their target price on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Bank of America reduced their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.69.

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.