Wellington Management Group LLP Lowers Holdings in The Charles Schwab Co. (NYSE:SCHW)

Wellington Management Group LLP lowered its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 23.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,226,468 shares of the financial services provider’s stock after selling 690,520 shares during the period. Wellington Management Group LLP’s holdings in Charles Schwab were worth $164,781,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. Gladstone Institutional Advisory LLC boosted its stake in Charles Schwab by 2.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 124 shares during the period. N.E.W. Advisory Services LLC boosted its position in shares of Charles Schwab by 1.7% during the fourth quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 125 shares during the last quarter. Klingman & Associates LLC grew its stake in Charles Schwab by 3.2% during the fourth quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 125 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in Charles Schwab by 2.7% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 127 shares during the last quarter. Finally, Personal CFO Solutions LLC boosted its holdings in shares of Charles Schwab by 1.2% during the 4th quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock opened at $78.67 on Thursday. The stock has a 50 day moving average price of $79.48 and a 200 day moving average price of $75.69. The firm has a market capitalization of $142.67 billion, a P/E ratio of 26.31, a P/E/G ratio of 0.99 and a beta of 0.91. 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 Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion during 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 business’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SCHW. Piper Sandler lifted 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. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Morgan Stanley raised their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and upped their price target for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Finally, UBS Group lifted their price objective 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, five have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.28.

Insider Activity

In other news, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the sale, the insider now owns 57,818 shares in the company, valued at approximately $4,586,123.76. The trade was a 5.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on 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 transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 513,081 shares of company stock valued at $41,903,066. Corporate 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.