Hartford Investment Management Co. Sells 1,042 Shares of The Charles Schwab Co. (NYSE:SCHW)

Hartford Investment Management Co. decreased its holdings in The Charles Schwab Co. (NYSE:SCHWFree Report) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 100,280 shares of the financial services provider’s stock after selling 1,042 shares during the period. Hartford Investment Management Co.’s holdings in Charles Schwab were worth $6,899,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Providence Capital Advisors LLC acquired a new stake in Charles Schwab in the third quarter worth $28,000. Sugarloaf Wealth Management LLC boosted 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 during the last quarter. Worth Asset Management LLC bought a new position in shares of Charles Schwab in the first quarter valued at approximately $32,000. BluePath Capital Management LLC bought a new stake in Charles Schwab during the third quarter worth $34,000. Finally, Hall Laurie J Trustee purchased a new position in Charles Schwab in the fourth quarter valued at about $34,000. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Up 0.5 %

Shares of NYSE SCHW traded up $0.34 during trading hours on Wednesday, reaching $71.80. The stock had a trading volume of 2,257,162 shares, compared to its average volume of 7,638,271. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The firm has a market cap of $127.34 billion, a price-to-earnings ratio of 28.22, a P/E/G ratio of 1.38 and a beta of 1.01. The business’s fifty day moving average price is $66.30 and its two-hundred day moving average price is $61.63. The Charles Schwab Co. has a 52-week low of $45.65 and a 52-week high of $72.94.

Charles Schwab (NYSE:SCHWGet Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the business posted $1.07 EPS. Charles Schwab’s revenue was down 18.9% on a year-over-year basis. Analysts expect that The Charles Schwab Co. will post 3.36 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.39%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s payout ratio is currently 39.37%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 16,390 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the completion of the transaction, the chairman now owns 61,331,688 shares of the company’s stock, valued at $3,921,548,130.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 16,390 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total transaction of $1,047,976.60. Following the completion of the sale, the chairman now owns 61,331,688 shares of the company’s stock, valued at $3,921,548,130.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Peter B. Crawford sold 4,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total value of $257,960.00. Following the transaction, the chief financial officer now owns 37,611 shares of the company’s stock, valued at $2,425,533.39. The disclosure for this sale can be found here. Insiders sold a total of 216,584 shares of company stock valued at $14,200,769 in the last three months. 6.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on SCHW. Keefe, Bruyette & Woods downgraded Charles Schwab from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $75.00 to $70.00 in a research report on Thursday, January 18th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $71.00 target price (up from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Raymond James cut their target price on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, January 18th. Finally, JMP Securities restated a “market outperform” rating and issued a $77.00 price objective on shares of Charles Schwab in a report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $71.12.

Read Our Latest Analysis on SCHW

About Charles Schwab

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Co. (NYSE:SCHWFree Report).

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.