Sherman Asset Management Inc. Makes New $112,000 Investment in The Charles Schwab Co. (NYSE:SCHW)

Sherman Asset Management Inc. purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,512 shares of the financial services provider’s stock, valued at approximately $112,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. boosted its stake in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab during the 3rd quarter worth about $25,000. Prospera Private Wealth LLC purchased a new stake in shares of Charles Schwab during the 3rd quarter worth about $31,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Charles Schwab during the 3rd quarter worth about $33,000. Finally, Planning Capital Management Corp purchased a new stake in shares of Charles Schwab during the 3rd quarter worth about $33,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In related news, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction that occurred on 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on 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 sale, the chairman now owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 487,820 shares of company stock worth $39,938,849 in the last 90 days. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Up 1.6 %

Shares of NYSE SCHW opened at $79.71 on Friday. The company has a 50 day simple moving average of $78.37 and a 200-day simple moving average of $73.61. The company has a market capitalization of $141.99 billion, a P/E ratio of 26.66, a P/E/G ratio of 0.99 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion during 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 revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. On average, equities research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Wall Street Analyst Weigh In

SCHW has been the topic of several recent analyst reports. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Redburn Partners decreased their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Jefferies Financial Group raised their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Barclays raised their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $86.33.

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.