Whittier Trust Co. Sells 8,728 Shares of The Charles Schwab Co. (NYSE:SCHW)

Whittier Trust Co. reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 201,179 shares of the financial services provider’s stock after selling 8,728 shares during the quarter. Whittier Trust Co.’s holdings in Charles Schwab were worth $14,889,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp raised its holdings in Charles Schwab by 0.7% during the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after acquiring an additional 414,949 shares during the period. Geode Capital Management LLC raised its holdings in Charles Schwab by 1.5% during the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after acquiring an additional 445,304 shares during the period. Massachusetts Financial Services Co. MA raised its holdings 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 valued at $1,858,706,000 after acquiring an additional 1,711,312 shares during the period. Franklin Resources Inc. raised its holdings in Charles Schwab by 15.0% during 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 acquiring an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Charles Schwab by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after acquiring an additional 265,708 shares during the period. 84.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 501,087 shares of company stock worth $40,952,233. Company insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

NYSE:SCHW opened at $78.72 on Thursday. The Charles Schwab Co. has a one year low of $61.01 and a one year 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. The firm has a market cap of $142.76 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.99 and a beta of 0.98. The firm’s fifty day moving average is $78.76 and its two-hundred day moving average is $74.60.

Charles Schwab (NYSE:SCHW) last posted its quarterly 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. 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%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 earnings per share. Research analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.27 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is 36.12%.

Analyst Ratings Changes

SCHW has been the topic of a number of recent analyst reports. Redburn Partners decreased their price target on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Morgan Stanley raised their price objective on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Piper Sandler raised their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and raised their price objective for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Finally, UBS Group lifted their price target on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Two research 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’s stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average target price of $86.33.

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.