Elevation Wealth Partners LLC Sells 2,050 Shares of The Charles Schwab Co. (NYSE:SCHW)

Elevation Wealth Partners LLC lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 44.9% during the fourth quarter, HoldingsChannel reports. The fund owned 2,520 shares of the financial services provider’s stock after selling 2,050 shares during the quarter. Elevation Wealth Partners LLC’s holdings in Charles Schwab were worth $187,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the transaction, the director now directly owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,514 shares of company stock worth $3,859,731. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $83.18 on Monday. The company has a market capitalization of $148.04 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 1.02 and a beta of 0.99. The firm’s 50 day simple moving average is $78.00 and its 200 day simple moving average is $71.83. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.04.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 4.18 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.30%. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is 33.44%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SCHW. Barclays upped their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Citigroup upped their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Truist Financial reaffirmed a “buy” rating and issued a $90.00 target price (up previously from $86.00) on shares of Charles Schwab in a report on Wednesday, January 22nd. The Goldman Sachs Group upped their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, UBS Group upped their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $84.50.

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.