Summitry LLC Buys 10,673 Shares of The Charles Schwab Co. (NYSE:SCHW)

Summitry LLC grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,016,139 shares of the financial services provider’s stock after purchasing an additional 10,673 shares during the period. Charles Schwab makes up about 3.7% of Summitry LLC’s holdings, making the stock its 9th largest holding. Summitry LLC’s holdings in Charles Schwab were worth $75,204,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Merit Financial Group LLC increased its holdings in Charles Schwab by 230.1% during 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 acquiring an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. grew 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 valued at $398,000 after purchasing an additional 5,937 shares during the last quarter. Synovus Financial Corp increased 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 purchasing an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC acquired a new position in shares of Charles Schwab during the 4th quarter worth approximately $688,000. Finally, Golden State Equity Partners lifted its stake in Charles Schwab by 293.9% in the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after buying an additional 9,108 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SCHW. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and boosted their target price for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Truist Financial lifted their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Performance

NYSE SCHW opened at $80.81 on Wednesday. The business’s 50-day simple moving average is $79.31 and its 200-day simple moving average is $75.11. The firm has a market capitalization of $146.55 billion, a P/E ratio of 27.03, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm earned $0.68 earnings per share. Charles Schwab’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities analysts predict that The Charles Schwab Co. will post 4.22 EPS 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 given a $0.27 dividend. The ex-dividend date was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.34%. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 9,887 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares in the company, valued at $3,613,038.78. This trade represents a 17.10 % 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, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 501,087 shares of company stock worth $40,952,233 over the last quarter. 6.60% of the stock is owned by corporate insiders.

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.