Allworth Financial LP Has $2.57 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Allworth Financial LP increased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 25.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,867 shares of the financial services provider’s stock after buying an additional 6,521 shares during the quarter. Allworth Financial LP’s holdings in Charles Schwab were worth $2,569,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Charles Schwab during the 3rd quarter worth $25,000. Washington Trust Advisors Inc. raised its stake in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the period. Prospera Private Wealth LLC acquired a new stake in Charles Schwab during the 3rd quarter worth $31,000. Planning Capital Management Corp acquired a new stake in Charles Schwab during the 3rd quarter worth $33,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Charles Schwab during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SCHW shares. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Citigroup lifted their price target on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Piper Sandler lifted their price target on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Redburn Partners dropped their price target on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Finally, JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.56.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the transaction, the insider now directly owns 59,092 shares in the company, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 502,859 shares of company stock valued at $41,161,496 over the last 90 days. 6.60% of the stock is currently owned by insiders.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $80.32 on Tuesday. The business’s 50 day moving average price is $78.03 and its two-hundred day moving average price is $72.45. The company has a market cap of $142.94 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. 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 Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50.

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, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. On average, analysts predict that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is 33.44%.

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.