The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Red Door Wealth Management LLC

Red Door Wealth Management LLC cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.5% in the fourth quarter, HoldingsChannel reports. The firm owned 3,074 shares of the financial services provider’s stock after selling 250 shares during the period. Red Door Wealth Management LLC’s holdings in Charles Schwab were worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Merit Financial Group LLC lifted its stake in shares of Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 23,383 shares during the period. Benjamin Edwards Inc. raised its position in shares of Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 5,937 shares during the period. Synovus Financial Corp boosted its stake in shares of Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN boosted its stake in shares of Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after acquiring an additional 63,463 shares in the last quarter. Finally, Equity Investment Corp grew its position in shares of Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after acquiring an additional 140,643 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $89.00 to $93.00 in a research report on Wednesday. Cowen lifted their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Raymond James reduced their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Jefferies Financial Group lifted their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Truist Financial restated a “buy” rating and set a $90.00 price target (up previously from $86.00) on shares of Charles Schwab in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $83.83.

Charles Schwab Stock Performance

NYSE SCHW opened at $81.67 on Friday. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $83.35. The firm has a market capitalization of $145.34 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The stock’s fifty day moving average is $77.78 and its two-hundred day moving average is $70.82. 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 announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5,190,822.51 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. On average, research analysts anticipate that The Charles Schwab Co. will post 4.09 earnings per share for the current year.

Insider Transactions at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the transaction, the director now owns 442,807 shares in the company, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,466 shares of company stock worth $3,352,884 in the last 90 days. Insiders own 6.60% of the company’s stock.

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.