Modern Wealth Management LLC Buys 1,945 Shares of The Charles Schwab Co. (NYSE:SCHW)

Modern Wealth Management LLC grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 39.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,921 shares of the financial services provider’s stock after buying an additional 1,945 shares during the period. Modern Wealth Management LLC’s holdings in Charles Schwab were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its stake in shares of Charles Schwab by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock valued at $432,536,000 after purchasing an additional 38,201 shares during the last quarter. United Bank grew its holdings in Charles Schwab by 13.0% during the 3rd quarter. United Bank now owns 11,352 shares of the financial services provider’s stock worth $736,000 after acquiring an additional 1,309 shares during the period. Quest Partners LLC bought a new position in shares of Charles Schwab in the 3rd quarter worth about $270,000. Kingsview Wealth Management LLC lifted its stake in shares of Charles Schwab by 7.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 6,747 shares of the financial services provider’s stock valued at $437,000 after purchasing an additional 477 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Charles Schwab during the 3rd quarter valued at about $88,000. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and increased their price target for the stock from $88.00 to $103.00 in a report on Tuesday, February 18th. Redburn Partners reduced their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Truist Financial raised their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Keefe, Bruyette & Woods upped their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $86.33.

Insider Activity

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’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 filing with the SEC, which is available through the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the transaction, the insider now owns 47,931 shares of the company’s stock, valued at $3,613,038.78. The trade was a 17.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 501,087 shares of company stock valued at $40,952,233 in the last 90 days. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $80.12 on Thursday. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The company’s 50-day moving average is $79.44 and its 200 day moving average is $75.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $145.30 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm 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 company’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.35%. Charles Schwab’s payout ratio is presently 36.12%.

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.