The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 21.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,910,382 shares of the financial services provider’s stock after selling 509,504 shares during the quarter. Thrivent Financial for Lutherans owned 0.11% of Charles Schwab worth $141,568,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Primecap Management Co. CA lifted its position in shares of Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after purchasing an additional 3,216,000 shares in the last quarter. Franklin Resources Inc. lifted its holdings 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 worth $1,644,674,000 after buying an additional 3,157,923 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Charles Schwab during the 4th quarter worth approximately $189,791,000. Veritas Asset Management LLP acquired a new position in shares of Charles Schwab in the fourth quarter worth $185,649,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of 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. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.9 %

NYSE:SCHW opened at $77.80 on Tuesday. 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 Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The stock’s 50 day moving average price is $78.54 and its 200 day moving average price is $74.48. The company has a market capitalization of $141.10 billion, a PE 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 business 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 company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. On average, research analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio is presently 36.12%.

Analysts Set New Price Targets

SCHW has been the subject of a number of recent research reports. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and lifted their target price for the company from $88.00 to $103.00 in a report on Tuesday, February 18th. Piper Sandler lifted their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. 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. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. 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 stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus target price of $86.33.

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the transaction, the insider now owns 57,818 shares in the company, valued at approximately $4,586,123.76. This trade represents a 5.52 % decrease in their ownership of the stock. 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 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.