Stevens Capital Management LP Acquires New Stake in The Charles Schwab Co. (NYSE:SCHW)

Stevens Capital Management LP acquired a new stake in The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,844 shares of the financial services provider’s stock, valued at approximately $877,000.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Charles Schwab by 0.6% during the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after acquiring an additional 38,201 shares in the last quarter. United Bank lifted its position in shares of Charles Schwab by 13.0% during the third quarter. United Bank now owns 11,352 shares of the financial services provider’s stock worth $736,000 after acquiring an additional 1,309 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Charles Schwab during the third quarter worth $270,000. Prospera Private Wealth LLC purchased a new stake in shares of Charles Schwab during the third quarter worth $31,000. Finally, King Luther Capital Management Corp lifted its position in shares of Charles Schwab by 2.2% during the third quarter. King Luther Capital Management Corp now owns 27,064 shares of the financial services provider’s stock worth $1,754,000 after acquiring an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $78.47 on Friday. The company has a 50-day simple moving average of $78.99 and a two-hundred day simple moving average of $74.79. 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 12-month low of $61.01 and a 12-month high of $84.50. The firm has a market cap of $142.30 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s revenue was up 19.5% on a year-over-year basis. On average, equities analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.38%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio is presently 36.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Piper Sandler increased their target price on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Redburn Partners decreased their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Finally, Truist Financial upped their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $86.33.

Insider Buying and Selling at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The stock was 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 of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 501,087 shares of company stock worth $40,952,233 over the last three months. Company insiders own 6.60% of the company’s stock.

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.