Balboa Wealth Partners Reduces Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Balboa Wealth Partners trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 37.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,121 shares of the financial services provider’s stock after selling 4,882 shares during the quarter. Balboa Wealth Partners’ holdings in Charles Schwab were worth $601,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Prospera Private Wealth LLC bought a new position in shares of Charles Schwab in the third quarter valued at approximately $31,000. Planning Capital Management Corp purchased a new stake in Charles Schwab in the 3rd quarter worth approximately $33,000. Peterson Financial Group Inc. bought a new position in Charles Schwab in the 3rd quarter valued at $35,000. Knuff & Co LLC grew its position in shares of Charles Schwab by 1,309.3% during the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 563 shares in the last quarter. Finally, Financial Life Planners bought a new position in shares of Charles Schwab in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Citigroup lifted their price target on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and upped their price objective for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. JMP Securities reiterated a “market outperform” rating and set a $94.00 target price (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Finally, Jefferies Financial Group boosted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, six have given 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 a consensus price target of $86.33.

Charles Schwab Stock Performance

NYSE SCHW opened at $74.29 on Thursday. The firm has a market cap of $134.72 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 0.99 and a beta of 0.98. The company has a 50-day simple moving average of $78.42 and a two-hundred day simple moving average of $74.16. 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 12-month low of $61.01 and a 12-month high of $84.50.

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

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 501,087 shares of company stock worth $40,952,233. 6.60% of the stock is currently owned by company insiders.

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.