Connor Clark & Lunn Investment Management Ltd. Sells 148,750 Shares of The Charles Schwab Co. (NYSE:SCHW)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 91.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,421 shares of the financial services provider’s stock after selling 148,750 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Charles Schwab were worth $993,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SCHW. Prospera Private Wealth LLC bought a new stake in Charles Schwab during the third quarter valued at $31,000. Knuff & Co LLC lifted its stake 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 worth $45,000 after purchasing an additional 563 shares during the last quarter. Financial Life Planners bought a new stake in Charles Schwab during the fourth quarter worth about $46,000. Whipplewood Advisors LLC bought a new stake in Charles Schwab during the fourth quarter worth about $46,000. Finally, Heck Capital Advisors LLC bought a new stake in Charles Schwab during the fourth quarter worth about $50,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Morgan Stanley lifted their price objective on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.33.

Insider Transactions at Charles Schwab

In other news, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the sale, the director now directly owns 18,617 shares of the company’s stock, valued at $1,523,242.94. The trade was a 31.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. This represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 501,087 shares of company stock valued at $40,952,233 in the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Down 0.1 %

SCHW stock opened at $78.61 on Friday. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The business’s 50 day moving average price is $78.88 and its two-hundred day moving average price is $74.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $142.57 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping 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 firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. Charles Schwab’s dividend payout ratio is 36.12%.

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.