RNC Capital Management LLC Invests $1.75 Million in The Charles Schwab Co. (NYSE:SCHW)

RNC Capital Management LLC bought a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, Holdings Channel reports. The firm bought 23,616 shares of the financial services provider’s stock, valued at approximately $1,748,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Charles Schwab during the 3rd quarter valued at about $25,000. Washington Trust Advisors Inc. boosted its holdings in Charles Schwab by 62.6% during the 3rd 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. Prospera Private Wealth LLC purchased a new position in Charles Schwab during the 3rd quarter valued at about $31,000. Future Financial Wealth Managment LLC purchased a new position in Charles Schwab during the 3rd quarter valued at about $32,000. Finally, Planning Capital Management Corp purchased a new position in Charles Schwab during the 3rd quarter valued at about $33,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In related news, Director Arun Sarin sold 8,548 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the sale, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,014 shares of company stock valued at $4,052,281. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SCHW shares. Morgan Stanley raised their target price on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Piper Sandler boosted their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $84.50.

Charles Schwab Stock Up 2.1 %

Charles Schwab stock opened at $83.62 on Friday. 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 firm has a market capitalization of $148.81 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $83.94. The stock’s fifty day moving average is $77.97 and its two-hundred day moving average is $71.57.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. Analysts predict that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.27 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.29%. Charles Schwab’s dividend payout ratio is 33.44%.

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.