Oppenheimer Asset Management Inc. Raises Stake in The Charles Schwab Co. (NYSE:SCHW)

Oppenheimer Asset Management Inc. boosted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,253 shares of the financial services provider’s stock after purchasing an additional 6,256 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Charles Schwab were worth $9,936,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Merit Financial Group LLC boosted its stake in Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after buying an additional 5,937 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $688,000. Finally, Golden State Equity Partners increased its position in shares of Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 9,108 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on 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 sale, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the transaction, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 487,820 shares of company stock valued at $39,938,849 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Down 0.2 %

NYSE SCHW opened at $78.53 on Friday. The stock’s 50-day moving average price is $78.27 and its 200-day moving average price is $73.41. The company has a market capitalization of $139.87 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 0.99 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 52 week low of $61.01 and a 52 week high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its quarterly 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. 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%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. On average, equities research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share 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 paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is presently 36.12%.

Analyst Ratings Changes

Several research firms recently issued reports on SCHW. Piper Sandler upped their price objective on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upped their price target on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Redburn Partners reduced their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. Barclays upped their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, UBS Group raised their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $86.33.

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.