Federated Hermes Inc. Sells 178 Shares of The Charles Schwab Co. (NYSE:SCHW)

Federated Hermes Inc. reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 2.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,697 shares of the financial services provider’s stock after selling 178 shares during the period. Federated Hermes Inc.’s holdings in Charles Schwab were worth $570,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in Charles Schwab by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock valued at $432,536,000 after buying an additional 38,201 shares in the last quarter. Anchor Investment Management LLC grew its position in shares of Charles Schwab by 11.2% in the third quarter. Anchor Investment Management LLC now owns 36,229 shares of the financial services provider’s stock valued at $2,348,000 after purchasing an additional 3,637 shares in the last quarter. Sculati Wealth Management LLC raised its stake in shares of Charles Schwab by 0.7% during the 3rd quarter. Sculati Wealth Management LLC now owns 42,988 shares of the financial services provider’s stock valued at $2,786,000 after purchasing an additional 315 shares during the period. World Investment Advisors LLC purchased a new stake in Charles Schwab during the 3rd quarter worth about $9,211,000. Finally, Sfmg LLC boosted its stake in Charles Schwab by 2.5% in the 3rd quarter. Sfmg LLC now owns 58,542 shares of the financial services provider’s stock worth $3,794,000 after purchasing an additional 1,444 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

SCHW stock opened at $75.59 on Thursday. The firm has a market cap of $137.09 billion, a P/E ratio of 25.28, a P/E/G ratio of 0.99 and a beta of 0.91. The firm’s fifty day moving average is $77.39 and its 200 day moving average is $76.32. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating 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 company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the company posted $0.68 EPS. Charles Schwab’s revenue for the quarter was up 19.5% on a year-over-year basis. Research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.43%. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SCHW. Truist Financial decreased their price target on Charles Schwab from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. 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 research note on Wednesday, April 2nd. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Piper Sandler lowered their price objective on Charles Schwab from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, Redburn Partners reduced their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus price target of $85.33.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 9,887 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total value of $745,282.06. Following the transaction, the insider now owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders have sold a total of 513,081 shares of company stock valued at $41,903,066 over the last three months. 6.60% of the stock is owned by company insiders.

Charles Schwab Company 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.