The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 32.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,042 shares of the financial services provider’s stock after selling 20,788 shares during the quarter. Hodges Capital Management Inc.’s holdings in Charles Schwab were worth $3,113,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC raised its holdings in Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 165 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in Charles Schwab during the fourth quarter worth approximately $30,000. Wetzel Investment Advisors Inc. acquired a new stake in Charles Schwab during the fourth quarter worth approximately $31,000. Hall Laurie J Trustee acquired a new stake in Charles Schwab during the fourth quarter worth approximately $34,000. Finally, Glass Jacobson Investment Advisors llc raised its holdings in Charles Schwab by 81.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, Director Mark A. Goldfarb sold 7,100 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $70.86, for a total transaction of $503,106.00. Following the sale, the director now directly owns 19,917 shares in the company, valued at approximately $1,411,318.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Nigel J. Murtagh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.40, for a total value of $724,000.00. Following the sale, the insider now directly owns 71,446 shares in the company, valued at approximately $5,172,690.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Goldfarb sold 7,100 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $70.86, for a total transaction of $503,106.00. Following the completion of the sale, the director now owns 19,917 shares in the company, valued at $1,411,318.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 658,663 shares of company stock worth $48,997,146. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $73.69 on Friday. The firm’s fifty day moving average price is $74.42 and its 200 day moving average price is $69.81. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market cap of $130.97 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 1.14 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. On average, sell-side analysts expect that The Charles Schwab Co. will post 3.25 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. Charles Schwab’s payout ratio is currently 41.84%.

Analyst Ratings Changes

A number of analysts have weighed in on SCHW shares. JMP Securities reissued a “market outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a report on Tuesday, May 28th. Piper Sandler raised their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. UBS Group lifted their target price on shares of Charles Schwab from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. cut their target price on shares of Charles Schwab from $89.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Finally, TD Cowen cut their target price on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and an average target price of $75.56.

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.