Naviter Wealth LLC Takes Position in The Charles Schwab Co. (NYSE:SCHW)

Naviter Wealth LLC acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,947 shares of the financial services provider’s stock, valued at approximately $514,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCHW. State Street Corp boosted its stake in Charles Schwab by 0.7% in the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after acquiring an additional 414,949 shares in the last quarter. Geode Capital Management LLC boosted its stake in Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after acquiring an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Charles Schwab by 6.3% in the third 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 acquiring an additional 1,711,312 shares in the last quarter. Franklin Resources Inc. boosted its stake in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after acquiring an additional 265,708 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group raised their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of “Hold” and a consensus price target of $86.33.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’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 document filed with the SEC, which is available through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the transaction, the director now owns 18,617 shares in the company, valued at $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 501,087 shares of company stock worth $40,952,233 over the last 90 days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Down 1.3 %

SCHW opened at $74.58 on Friday. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. 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 fifty day moving average of $78.50 and a two-hundred day moving average of $73.99. The stock has a market capitalization of $135.25 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) 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 business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given 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 was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.45%. Charles Schwab’s dividend payout ratio (DPR) is 36.12%.

Charles Schwab 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.