Phoenix Financial Ltd. Sells 92,223 Shares of The Charles Schwab Co. (NYSE:SCHW)

Phoenix Financial Ltd. cut its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 94.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,288 shares of the financial services provider's stock after selling 92,223 shares during the period. Phoenix Financial Ltd.'s holdings in Charles Schwab were worth $391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new stake in Charles Schwab in the fourth quarter valued at approximately $38,000. Atala Financial Inc acquired a new position in shares of Charles Schwab in the fourth quarter valued at $41,000. Knuff & Co LLC raised its position in shares of Charles Schwab by 1,309.3% in the fourth 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 during the period. Financial Life Planners acquired a new stake in shares of Charles Schwab during the 4th quarter worth about $46,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Charles Schwab during the 4th quarter worth about $46,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Truist Financial cut their price objective on shares of Charles Schwab from $91.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Redburn Partners dropped their target price on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a report on Friday, January 17th. Wells Fargo & Company decreased their price target on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Finally, UBS Group increased their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $85.33.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 9,887 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the transaction, the insider now directly owns 47,931 shares of the company's stock, valued at $3,613,038.78. The trade was a 17.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock worth $41,903,066 over the last ninety days. Insiders own 6.60% of the company's stock.

Charles Schwab Trading Up 2.6 %

SCHW traded up $1.97 during trading on Thursday, reaching $77.67. 9,933,078 shares of the company's stock were exchanged, compared to its average volume of 9,259,233. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The firm has a fifty day moving average price of $77.39 and a two-hundred day moving average price of $76.32. The stock has a market capitalization of $140.87 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. 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 1.39%. The ex-dividend date was Friday, February 14th. Charles Schwab's payout ratio is currently 36.12%.

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.