The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by Pointe Capital Management LLC

Pointe Capital Management LLC increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 13.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,541 shares of the financial services provider’s stock after acquiring an additional 1,011 shares during the quarter. Pointe Capital Management LLC’s holdings in Charles Schwab were worth $632,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SCHW. Arkadios Wealth Advisors boosted its stake in shares of Charles Schwab by 20.6% in the third quarter. Arkadios Wealth Advisors now owns 10,765 shares of the financial services provider’s stock worth $698,000 after acquiring an additional 1,836 shares during the last quarter. Concord Wealth Partners lifted its holdings in Charles Schwab by 106.6% in the 3rd quarter. Concord Wealth Partners now owns 1,998 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 1,031 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Charles Schwab by 14.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 459,464 shares of the financial services provider’s stock worth $29,778,000 after purchasing an additional 57,420 shares during the last quarter. abrdn plc grew its holdings in shares of Charles Schwab by 0.7% during the third quarter. abrdn plc now owns 1,259,418 shares of the financial services provider’s stock worth $81,012,000 after buying an additional 8,728 shares in the last quarter. Finally, Fortitude Family Office LLC raised its position in shares of Charles Schwab by 43.4% in the third quarter. Fortitude Family Office LLC now owns 558 shares of the financial services provider’s stock valued at $36,000 after buying an additional 169 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Jefferies Financial Group lifted their price objective on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and raised their target price for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, JMP Securities reissued a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Two 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $86.33.

Insider Activity

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 487,820 shares of company stock valued at $39,938,849. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $79.01 on Wednesday. The stock has a market capitalization 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 firm has a 50 day moving average of $78.07 and a two-hundred day moving average of $73.34. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued 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. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. On average, research analysts predict that The Charles Schwab Co. will post 4.22 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. Stockholders of record on Friday, February 14th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is 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.