Sumitomo Life Insurance Co. Reduces Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Sumitomo Life Insurance Co. decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,233 shares of the financial services provider’s stock after selling 433 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Charles Schwab were worth $1,053,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Washington Trust Advisors Inc. increased its holdings in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab in the 3rd quarter worth approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Charles Schwab during the third quarter valued at approximately $31,000. Future Financial Wealth Managment LLC bought a new position in shares of Charles Schwab during the third quarter valued at approximately $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Charles Schwab in the third quarter worth $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. The trade was 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 50,014 shares of company stock worth $4,052,281. 6.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SCHW. Morgan Stanley boosted their price objective on shares of Charles Schwab from $74.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Raymond James reduced their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. UBS Group raised their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial reiterated a “buy” rating and set a $90.00 target price (up previously from $86.00) on shares of Charles Schwab in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.11.

Charles Schwab Trading Up 0.5 %

Shares of NYSE SCHW opened at $82.13 on Thursday. The firm’s 50 day moving average price is $77.86 and its 200-day moving average price is $70.92. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week 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 company has a market cap of $146.17 billion, a PE ratio of 27.47, a P/E/G ratio of 1.46 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. On average, equities research analysts expect that The Charles Schwab Co. will post 4.09 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.27 per share. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.31%. Charles Schwab’s dividend payout ratio (DPR) is 33.44%.

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.