700 Shares in The Charles Schwab Co. (NYSE:SCHW) Purchased by Promus Capital LLC

Promus Capital LLC bought a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 700 shares of the financial services provider’s stock, valued at approximately $52,000.

Several other hedge funds have also recently added to or reduced their stakes in SCHW. Merit Financial Group LLC boosted its holdings in shares of Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after buying an additional 5,937 shares during the period. Synovus Financial Corp boosted its stake in Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC purchased a new stake in Charles Schwab in the 4th quarter valued at about $688,000. Finally, Golden State Equity Partners increased its stake in shares of Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 9,108 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 Charles Schwab news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,200 shares of company stock valued at $40,206,950. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SCHW shares. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Redburn Partners reduced their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Truist Financial upped their price target on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two equities 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Stock Down 1.6 %

Shares of NYSE SCHW opened at $75.53 on Friday. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The stock’s 50-day simple moving average is $78.50 and its 200-day simple moving average is $73.86. 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 firm has a market cap of $136.97 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last released its quarterly 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 net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the company earned $0.68 earnings per share. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is 36.12%.

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.