Beacon Financial Group Decreases Stake in The Charles Schwab Co. (NYSE:SCHW)

Beacon Financial Group lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,434 shares of the financial services provider’s stock after selling 774 shares during the period. Beacon Financial Group’s holdings in Charles Schwab were worth $2,400,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of Charles Schwab in the 3rd quarter valued at $25,000. Washington Trust Advisors Inc. grew its stake in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Charles Schwab in the third quarter valued at about $31,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Charles Schwab in the third quarter worth about $33,000. Finally, Planning Capital Management Corp acquired a new stake in shares of Charles Schwab during the third quarter worth about $33,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Up 2.9 %

SCHW opened at $83.51 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The company has a market cap of $148.61 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The company has a 50-day moving average price of $77.99 and a 200 day moving average price of $71.99.

Charles Schwab (NYSE:SCHW) last announced 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. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. Sell-side analysts expect that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio is 33.44%.

Analysts Set New Price Targets

SCHW has been the topic of several research reports. Bank of America cut their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Piper Sandler raised their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. 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 report on Wednesday, January 22nd. Citigroup increased their price target on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Morgan Stanley boosted their price objective on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and a consensus price target of $84.56.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,514 shares of company stock valued at $3,859,731. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab 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.