Fifth Third Wealth Advisors LLC Buys 3,789 Shares of The Charles Schwab Co. (NYSE:SCHW)

Fifth Third Wealth Advisors LLC raised its stake in The Charles Schwab Co. (NYSE:SCHW) by 25.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 18,417 shares of the financial services provider’s stock after acquiring an additional 3,789 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Charles Schwab were worth $1,363,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. boosted its holdings in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after acquiring an additional 3,157,923 shares in the last quarter. Darsana Capital Partners LP raised its position in Charles Schwab by 200.0% in the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after purchasing an additional 2,000,000 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Charles Schwab by 6.3% in 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 in the last quarter. AustralianSuper Pty Ltd boosted its stake in Charles Schwab by 2,617.6% in the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after purchasing an additional 1,644,931 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Charles Schwab during the third quarter worth $86,845,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SCHW shares. JMP Securities reiterated a “market outperform” rating and set a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Piper Sandler upped their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Cowen increased their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group boosted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Truist Financial upgraded Charles Schwab to a “strong-buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.63.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction that occurred on Monday, November 25th. The shares were 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. The trade was a 11.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $1,034,024.63. Following the completion of the transaction, the insider now owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This trade represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,823 shares of company stock valued at $2,171,194. 6.60% of the stock is owned by company insiders.

Charles Schwab Price Performance

Charles Schwab stock opened at $73.75 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $131.25 billion, a P/E ratio of 28.81, a PEG ratio of 1.76 and a beta of 0.99. The business has a 50-day moving average of $77.62 and a 200-day moving average of $70.58. The Charles Schwab Co. has a 1 year low of $59.67 and a 1 year high of $83.35.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

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.