Synergy Investment Management LLC Makes New $63,000 Investment in The Charles Schwab Co. (NYSE:SCHW)

Synergy Investment Management LLC bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 857 shares of the financial services provider’s stock, valued at approximately $63,000.

Other hedge funds have also made changes to their positions in the company. Washington Trust Advisors Inc. lifted its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab in the 3rd quarter worth approximately $25,000. Prospera Private Wealth LLC bought a new stake in shares of Charles Schwab in the 3rd quarter worth approximately $31,000. Hazlett Burt & Watson Inc. acquired a new stake in Charles Schwab in the 3rd quarter valued at approximately $33,000. Finally, Planning Capital Management Corp acquired a new stake in Charles Schwab in the 3rd quarter valued at approximately $33,000. Institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of several analyst reports. Jefferies Financial Group raised their target price on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and raised their target price for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Redburn Partners lowered their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Truist Financial raised their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Citigroup lifted their price target on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average price target of $86.33.

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the director now directly owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,200 shares of company stock valued at $40,206,950 over the last quarter. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $75.17 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 stock has a market capitalization of $136.32 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 0.99 and a beta of 0.98. The stock’s fifty day simple moving average is $78.45 and its 200 day simple moving average is $73.83. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate 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%. Charles Schwab’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.44%. 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 dividend payout ratio (DPR) is 36.12%.

Charles Schwab Company 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.