WBI Investments LLC Cuts Position in The Charles Schwab Co. (NYSE:SCHW)

WBI Investments LLC cut its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 68.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,544 shares of the financial services provider's stock after selling 9,643 shares during the period. WBI Investments LLC's holdings in Charles Schwab were worth $336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new position in Charles Schwab in the fourth quarter worth $38,000. Atala Financial Inc purchased a new stake in Charles Schwab during the fourth quarter valued at about $41,000. Knuff & Co LLC boosted its position in Charles Schwab by 1,309.3% during the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock valued at $45,000 after buying an additional 563 shares during the period. Financial Life Planners purchased a new stake in Charles Schwab during the fourth quarter valued at about $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in Charles Schwab during the fourth quarter valued at about $46,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on SCHW. JMP Securities restated a "market outperform" rating and set a $94.00 price target on shares of Charles Schwab in a research report on Monday, April 21st. Keefe, Bruyette & Woods upped their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a research report on Tuesday, April 22nd. Barclays cut their price target on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Piper Sandler upped their price target on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Finally, Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and increased their target price for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Charles Schwab currently has an average rating of "Moderate Buy" and a consensus target price of $88.33.

Charles Schwab Price Performance

SCHW stock opened at $89.16 on Tuesday. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $89.39. The company has a market cap of $162.00 billion, a P/E ratio of 29.82, a PEG ratio of 0.99 and a beta of 0.90. The firm has a 50-day moving average of $79.06 and a 200 day moving average of $78.59. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, sell-side analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, May 9th. Charles Schwab's dividend payout ratio is 32.73%.

Insider Buying and Selling at Charles Schwab

In related news, insider Paul V. Woolway sold 9,887 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the sale, the insider now owns 47,931 shares of the company's stock, valued at $3,613,038.78. This trade represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank C. Herringer sold 3,592 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the sale, the director now directly owns 172,162 shares of the company's stock, valued at $12,784,750.12. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,412 shares of company stock valued at $3,014,797. Corporate insiders own 6.30% 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.

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