The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Summit Financial LLC

Summit Financial LLC raised its holdings in The Charles Schwab Co. (NYSE:SCHW) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,435 shares of the financial services provider’s stock after acquiring an additional 3,828 shares during the quarter. Summit Financial LLC’s holdings in Charles Schwab were worth $2,623,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC boosted its position in Charles Schwab by 2.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 124 shares in the last quarter. N.E.W. Advisory Services LLC boosted its position in shares of Charles Schwab by 1.7% in the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider’s stock worth $557,000 after buying an additional 125 shares in the last quarter. Klingman & Associates LLC grew its stake in Charles Schwab by 3.2% in the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 125 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in Charles Schwab by 2.7% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 127 shares in the last quarter. Finally, Personal CFO Solutions LLC raised its position in Charles Schwab by 1.2% during the fourth quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider’s stock worth $832,000 after acquiring an additional 130 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In other news, insider Paul V. Woolway sold 3,380 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, the insider now directly owns 57,818 shares in the company, valued at $4,586,123.76. This trade represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold 509,701 shares of company stock valued at $41,641,353 over the last quarter. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 0.7 %

SCHW opened at $78.38 on Tuesday. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The firm has a 50 day moving average price of $79.58 and a 200 day moving average price of $75.56. 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 cap of $142.15 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.

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

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 36.12%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Truist Financial increased their price objective on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Barclays boosted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $86.33.

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.