Cibc World Markets Corp Sells 49,703 Shares of The Charles Schwab Co. (NYSE:SCHW)

Cibc World Markets Corp lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 17.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,659 shares of the financial services provider’s stock after selling 49,703 shares during the quarter. Cibc World Markets Corp’s holdings in Charles Schwab were worth $17,811,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in Charles Schwab by 15.0% during the 3rd 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. Raymond James Financial Inc. bought a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $189,791,000. Veritas Asset Management LLP acquired a new stake in shares of Charles Schwab in the fourth quarter worth $185,649,000. Massachusetts Financial Services Co. MA increased its position in Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares during the period. Finally, KBC Group NV raised its stake in Charles Schwab by 186.7% during the 4th quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock valued at $158,236,000 after purchasing an additional 1,392,255 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Charles Schwab stock opened at $77.80 on Tuesday. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The stock has a 50-day simple moving average of $78.54 and a 200 day simple moving average of $74.48. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $141.10 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. On average, research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. 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 1.39%. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Analyst Ratings Changes

SCHW has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Redburn Partners lowered their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. JMP Securities restated a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, Barclays lifted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $86.33.

Insider Activity

In other news, 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 transaction, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders have sold 501,087 shares of company stock valued at $40,952,233 over the last 90 days. 6.60% of the stock is owned by company insiders.

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.