Cornercap Investment Counsel Inc. Takes $1.76 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Cornercap Investment Counsel Inc. bought a new position in The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,724 shares of the financial services provider’s stock, valued at approximately $1,756,000. Charles Schwab accounts for approximately 0.6% of Cornercap Investment Counsel Inc.’s portfolio, making the stock its 21st largest position.

Several other institutional investors also recently bought and sold shares of SCHW. Murphy & Mullick Capital Management Corp acquired a new position in Charles Schwab in the fourth quarter valued at $38,000. Atala Financial Inc purchased a new stake in Charles Schwab in the 4th quarter valued at about $41,000. Knuff & Co LLC increased its stake in shares of Charles Schwab by 1,309.3% during the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 563 shares during the last quarter. Financial Life Planners purchased a new position in shares of Charles Schwab during the 4th quarter worth about $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Charles Schwab in the fourth quarter worth approximately $46,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. increased their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and boosted their price target for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Price Performance

SCHW opened at $77.79 on Friday. The company has a fifty day moving average price of $79.55 and a two-hundred day moving average price of $75.28. The firm has a market capitalization of $141.08 billion, a PE ratio of 26.02, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the firm earned $0.68 EPS. Charles Schwab’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 8,614 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $80.00, for a total value of $689,120.00. Following the transaction, the insider now directly owns 49,204 shares in the company, valued at $3,936,320. The trade was a 14.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 509,701 shares of company stock worth $41,641,353. 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.