Strategic Financial Concepts LLC Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Strategic Financial Concepts LLC acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,365 shares of the financial services provider’s stock, valued at approximately $2,691,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp lifted its position in Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after acquiring an additional 414,949 shares during the period. Geode Capital Management LLC raised its stake in shares of Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after purchasing an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares during the period. Franklin Resources Inc. boosted its position in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Charles Schwab by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after buying an additional 493,264 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 1.5 %

SCHW opened at $80.32 on Tuesday. 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. 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 50-day moving average price of $78.03 and a 200 day moving average price of $72.45.

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

Charles Schwab Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Piper Sandler boosted their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, Jefferies Financial Group boosted their price target on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.56.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 502,859 shares of company stock valued at $41,161,496. Corporate insiders own 6.60% of the company’s stock.

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.