Exchange Capital Management Inc. Boosts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Exchange Capital Management Inc. raised its position in The Charles Schwab Co. (NYSE:SCHW) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,023 shares of the financial services provider’s stock after acquiring an additional 326 shares during the period. Exchange Capital Management Inc.’s holdings in Charles Schwab were worth $372,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Merit Financial Group LLC boosted its position in shares of Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after buying an additional 5,937 shares during the last quarter. Synovus Financial Corp boosted its holdings in Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new stake in shares of Charles Schwab during the fourth quarter worth about $688,000. Finally, Golden State Equity Partners increased its holdings in shares of Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 9,108 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares in the company, valued at $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. In the last 90 days, insiders sold 487,820 shares of company stock valued at $39,938,849. 6.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SCHW. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and lifted their target price for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Piper Sandler raised their target price on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Truist Financial lifted their price target on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley increased their price objective on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Trading Down 1.4 %

Charles Schwab stock opened at $79.01 on Wednesday. The firm has a market cap of $140.74 billion, a PE ratio of 26.43, a P/E/G ratio of 0.99 and a beta of 0.99. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The stock’s 50 day simple moving average is $78.07 and its two-hundred day simple moving average is $73.34. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 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 company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business earned $0.68 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. Analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 36.12%.

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.