First Eagle Investment Management LLC Has $235.04 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

First Eagle Investment Management LLC reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 11.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,175,717 shares of the financial services provider’s stock after selling 392,250 shares during the quarter. First Eagle Investment Management LLC’s holdings in Charles Schwab were worth $235,035,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SCHW. Merit Financial Group LLC boosted its stake in Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 23,383 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 5,937 shares during the period. Synovus Financial Corp raised its holdings in shares of Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $688,000. Finally, Golden State Equity Partners raised its holdings in shares of Charles Schwab by 293.9% in the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after buying an additional 9,108 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Down 1.0 %

NYSE SCHW opened at $73.49 on Friday. The stock has a fifty day moving average of $78.41 and a 200-day moving average of $74.16. The stock has a market capitalization of $133.28 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 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 company had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.27 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SCHW. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Jefferies Financial Group increased their target price on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Piper Sandler increased their target price on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and increased their target price for the stock from $88.00 to $103.00 in a report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $86.33.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 9,887 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the transaction, the insider now directly owns 47,931 shares in the company, valued at $3,613,038.78. This trade represents a 17.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 501,087 shares of company stock worth $40,952,233 in the last three months. Insiders own 6.60% of the company’s stock.

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.