Steele Capital Management Inc. Invests $202,000 in The Charles Schwab Co. (NYSE:SCHW)

Steele Capital Management Inc. bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, Holdings Channel reports. The fund bought 2,939 shares of the financial services provider’s stock, valued at approximately $202,000.

A number of other hedge funds have also added to or reduced their stakes in SCHW. Greatmark Investment Partners Inc. raised its position in shares of Charles Schwab by 5.0% during the fourth quarter. Greatmark Investment Partners Inc. now owns 300,625 shares of the financial services provider’s stock worth $20,683,000 after purchasing an additional 14,200 shares during the period. Investment House LLC bought a new position in shares of Charles Schwab in the fourth quarter valued at $3,070,000. Retirement Systems of Alabama grew its holdings in shares of Charles Schwab by 13.0% during the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after buying an additional 152,967 shares during the last quarter. Little House Capital LLC raised its holdings in shares of Charles Schwab by 1.3% in the 4th quarter. Little House Capital LLC now owns 52,418 shares of the financial services provider’s stock worth $3,606,000 after acquiring an additional 649 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its position in Charles Schwab by 25.3% in the 4th quarter. Transcend Capital Advisors LLC now owns 5,846 shares of the financial services provider’s stock valued at $402,000 after acquiring an additional 1,180 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SCHW. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. TD Cowen boosted their price objective on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised their target price on Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.47.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total value of $587,610.00. Following the sale, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Peter B. Crawford sold 5,481 shares of Charles Schwab stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $75.51, for a total transaction of $413,870.31. Following the sale, the chief financial officer now directly owns 60,567 shares in the company, valued at $4,573,414.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the transaction, the director now directly owns 585,057 shares of the company’s stock, valued at approximately $38,198,371.53. The disclosure for this sale can be found here. Insiders have sold a total of 394,648 shares of company stock valued at $27,400,905 in the last quarter. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

SCHW stock traded down $0.47 during midday trading on Tuesday, reaching $74.09. The company had a trading volume of 1,848,384 shares, compared to its average volume of 7,635,301. The firm has a 50-day moving average price of $69.89 and a 200-day moving average price of $64.17. The company has a market capitalization of $131.59 billion, a P/E ratio of 31.03, a P/E/G ratio of 1.10 and a beta of 1.01. The Charles Schwab Co. has a 1 year low of $45.65 and a 1 year high of $75.55. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.35%. Charles Schwab’s payout ratio is currently 41.84%.

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.