Legacy Wealth Asset Management LLC Has $670,000 Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Legacy Wealth Asset Management LLC cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,057 shares of the financial services provider’s stock after selling 144 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Charles Schwab were worth $670,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SCHW. Benjamin Edwards Inc. boosted its position in Charles Schwab by 2,840.7% during the 3rd 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 period. Synovus Financial Corp lifted its holdings in shares of Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 21,377 shares during the period. Patten & Patten Inc. TN grew its stake in shares of Charles Schwab by 155.9% in the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after purchasing an additional 63,463 shares during the last quarter. Equity Investment Corp increased its holdings in Charles Schwab by 9.4% in the third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after purchasing an additional 140,643 shares during the period. Finally, Teewinot Capital Advisers L.L.C. raised its position in Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Performance

SCHW opened at $76.53 on Friday. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.35. The company has a market cap of $136.20 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.19 and a beta of 0.99. 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 company’s fifty day moving average price is $77.63 and its two-hundred day moving average price is $70.63.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. Charles Schwab’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. On average, analysts expect that The Charles Schwab Co. will post 3.13 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Truist Financial upgraded Charles Schwab to a “strong-buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group increased their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Barclays upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $74.00 to $95.00 in a research report on Monday, December 9th. Bank of America lowered their target price on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods increased their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $81.41.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,823 shares of company stock worth $2,171,194. 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.