Howe & Rusling Inc. Has $6.65 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Howe & Rusling Inc. cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.7% in the fourth quarter, Holdings Channel reports. The firm owned 96,588 shares of the financial services provider’s stock after selling 5,819 shares during the quarter. Howe & Rusling Inc.’s holdings in Charles Schwab were worth $6,645,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SCHW. Essex Financial Services Inc. grew its stake in Charles Schwab by 2.7% in the fourth quarter. Essex Financial Services Inc. now owns 9,299 shares of the financial services provider’s stock valued at $640,000 after acquiring an additional 246 shares during the period. Cannell & Co. grew its stake in Charles Schwab by 5.4% in the fourth quarter. Cannell & Co. now owns 7,831 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 400 shares during the period. LCM Capital Management Inc acquired a new position in Charles Schwab in the fourth quarter valued at about $238,000. Mach 1 Financial Group LLC grew its stake in Charles Schwab by 17.5% in the fourth quarter. Mach 1 Financial Group LLC now owns 33,358 shares of the financial services provider’s stock valued at $2,295,000 after acquiring an additional 4,972 shares during the period. Finally, Savant Capital LLC grew its stake in Charles Schwab by 114.6% in the fourth quarter. Savant Capital LLC now owns 18,385 shares of the financial services provider’s stock valued at $1,265,000 after acquiring an additional 9,817 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jonathan M. Craig sold 4,977 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total value of $348,439.77. Following the transaction, the insider now owns 81,446 shares in the company, valued at $5,702,034.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jonathan M. Craig sold 4,977 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the transaction, the insider now directly owns 81,446 shares of the company’s stock, valued at $5,702,034.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter B. Crawford sold 5,481 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $75.51, for a total transaction of $413,870.31. Following the sale, the chief financial officer now owns 60,567 shares of the company’s stock, valued at $4,573,414.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 514,459 shares of company stock valued at $36,371,155. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 1.4 %

SCHW traded up $1.05 during midday trading on Wednesday, hitting $75.00. 5,197,535 shares of the company were exchanged, compared to its average volume of 7,662,203. The firm has a market capitalization of $133.20 billion, a P/E ratio of 30.77, a P/E/G ratio of 1.09 and a beta of 1.01. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $75.55. The firm’s 50 day moving average price is $70.09 and its 200-day moving average price is $64.33. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analyst Ratings Changes

A number of research analysts have issued reports on SCHW shares. Bank of America boosted their target price on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research note on Tuesday, April 16th. Citigroup upped their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Finally, TD Cowen upped their target price on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.47.

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.