Signature Wealth Management Group Has $1.85 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Signature Wealth Management Group raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 24,974 shares of the financial services provider’s stock after acquiring an additional 666 shares during the quarter. Signature Wealth Management Group’s holdings in Charles Schwab were worth $1,848,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GWN Securities Inc. bought a new stake in Charles Schwab during the 4th quarter worth approximately $444,000. Glenview Trust co boosted its holdings in shares of Charles Schwab by 0.3% in the 4th quarter. Glenview Trust co now owns 103,034 shares of the financial services provider’s stock valued at $7,626,000 after buying an additional 358 shares during the last quarter. Patten & Patten Inc. TN lifted its holdings in Charles Schwab by 1.7% during the 4th quarter. Patten & Patten Inc. TN now owns 105,973 shares of the financial services provider’s stock valued at $7,843,000 after purchasing an additional 1,805 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Charles Schwab by 2.7% during the 4th quarter. Harbour Investments Inc. now owns 7,818 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 206 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in Charles Schwab by 31.7% during the 4th quarter. Corient Private Wealth LLC now owns 837,432 shares of the financial services provider’s stock valued at $61,939,000 after purchasing an additional 201,752 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Up 5.1 %

Shares of Charles Schwab stock opened at $77.28 on Friday. The stock has a fifty day simple moving average of $78.47 and a 200 day simple moving average of $74.32. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The company has a market capitalization of $140.15 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. 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 quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 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 the consensus estimate of $5.19 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The company’s revenue was up 19.5% compared to the same quarter last year. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.40%. 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. Charles Schwab’s dividend payout ratio is 36.12%.

Insider Buying and Selling

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul V. Woolway sold 9,887 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares of the company’s stock, valued at $3,613,038.78. This trade represents a 17.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 501,087 shares of company stock valued at $40,952,233. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SCHW. Morgan Stanley increased their price objective on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. UBS Group lifted their price target on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Piper Sandler lifted their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group boosted their price target on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.33.

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.