Weaver Capital Management LLC Grows Position in The Charles Schwab Co. (NYSE:SCHW)

Weaver Capital Management LLC lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 37.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,903 shares of the financial services provider’s stock after acquiring an additional 2,437 shares during the period. Weaver Capital Management LLC’s holdings in Charles Schwab were worth $659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Washington Trust Advisors Inc. grew its position in Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab in the third quarter worth about $25,000. Prospera Private Wealth LLC purchased a new stake in shares of Charles Schwab in the third quarter worth about $31,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Charles Schwab in the third quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in shares of Charles Schwab in the third quarter worth about $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity

In related news, Director Arun Sarin sold 8,548 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the transaction, the director now owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,014 shares of company stock valued at $4,052,281. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $81.90 on Wednesday. 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 Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $83.84. The business has a fifty day simple moving average of $77.99 and a 200 day simple moving average of $71.36. The firm has a market cap of $145.75 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 1.01 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm 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 business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.27 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 33.44%.

Analysts Set New Price Targets

Several research analysts recently commented on SCHW shares. Truist Financial reiterated a “buy” rating and issued a $90.00 price target (up previously from $86.00) on shares of Charles Schwab in a research note on Wednesday, January 22nd. Raymond James cut their price target on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Redburn Partners cut their price target on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group upped their price objective on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Charles Schwab has a consensus rating of “Hold” and an average target price of $84.11.

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.