Sonora Investment Management Group LLC Has $356,000 Position in The Charles Schwab Co. (NYSE:SCHW)

Sonora Investment Management Group LLC cut its position in The Charles Schwab Co. (NYSE:SCHW) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,809 shares of the financial services provider’s stock after selling 160 shares during the period. Sonora Investment Management Group LLC’s holdings in Charles Schwab were worth $356,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Cibc World Market Inc. raised its position in shares of Charles Schwab by 364.9% during the fourth quarter. Cibc World Market Inc. now owns 212,577 shares of the financial services provider’s stock worth $15,733,000 after purchasing an additional 166,850 shares during the period. Hixon Zuercher LLC increased its stake in Charles Schwab by 1.1% during the 4th quarter. Hixon Zuercher LLC now owns 50,001 shares of the financial services provider’s stock worth $3,701,000 after purchasing an additional 567 shares in the last quarter. Crews Bank & Trust acquired a new stake in Charles Schwab during the 4th quarter worth approximately $83,000. OLD National Bancorp IN lifted its stake in Charles Schwab by 6.0% in the fourth quarter. OLD National Bancorp IN now owns 13,203 shares of the financial services provider’s stock valued at $977,000 after buying an additional 749 shares in the last quarter. Finally, Busey Bank boosted its holdings in shares of Charles Schwab by 1.4% in the fourth quarter. Busey Bank now owns 220,607 shares of the financial services provider’s stock valued at $16,327,000 after buying an additional 3,025 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Down 1.0 %

Shares of SCHW stock opened at $82.73 on Friday. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $83.84. The stock has a market cap of $147.22 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.00 and a beta of 0.99. The firm’s 50-day moving average is $77.94 and its 200-day moving average is $71.08. 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 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 firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. Sell-side analysts predict that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.31%. Charles Schwab’s payout ratio is presently 33.44%.

Insider Buying and Selling at Charles Schwab

In related news, Director Christopher V. Dodds sold 9,284 shares of the firm’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 directly owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,014 shares of company stock valued at $4,052,281 in the last three months. 6.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SCHW. Bank of America dropped their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Raymond James decreased their price objective on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, UBS Group raised their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $84.11.

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.