Carmel Capital Partners LLC Raises Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Carmel Capital Partners LLC lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,451 shares of the financial services provider’s stock after buying an additional 1,784 shares during the quarter. Charles Schwab makes up about 0.8% of Carmel Capital Partners LLC’s holdings, making the stock its 22nd biggest holding. Carmel Capital Partners LLC’s holdings in Charles Schwab were worth $2,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Franklin Resources Inc. grew its position in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after buying an additional 3,157,923 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Charles Schwab in the 4th quarter worth about $189,791,000. Veritas Asset Management LLP bought a new position in Charles Schwab in the 4th quarter worth about $185,649,000. Massachusetts Financial Services Co. MA grew its position in Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares during the last quarter. Finally, KBC Group NV grew its position in Charles Schwab by 186.7% during the 4th quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock valued at $158,236,000 after purchasing an additional 1,392,255 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

NYSE SCHW opened at $76.88 on Thursday. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The stock has a market cap of $139.42 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 0.99 and a beta of 0.98. The company’s 50 day moving average is $78.49 and its two-hundred day moving average is $73.85. 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 earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.19 billion. During the same quarter last year, the business earned $0.68 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. As a group, research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.40%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays increased their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Truist Financial raised their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Citigroup raised their price target on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised their price target 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. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $86.33.

Insider Activity

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the business’s 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 completion of the sale, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,200 shares of company stock worth $40,206,950 over the last quarter. Insiders own 6.60% of the company’s stock.

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.