Edgemoor Investment Advisors Inc. Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

Edgemoor Investment Advisors Inc. raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 176,394 shares of the financial services provider’s stock after acquiring an additional 1,733 shares during the period. Charles Schwab comprises about 1.2% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 21st biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Charles Schwab were worth $13,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Charles Schwab by 0.6% in the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after purchasing an additional 38,201 shares during the period. United Bank boosted its position in shares of Charles Schwab by 13.0% during the third quarter. United Bank now owns 11,352 shares of the financial services provider’s stock worth $736,000 after acquiring an additional 1,309 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Charles Schwab by 6.9% during the third quarter. Harbour Investments Inc. now owns 7,612 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 493 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Charles Schwab by 1.0% during the third quarter. OneDigital Investment Advisors LLC now owns 40,955 shares of the financial services provider’s stock worth $2,654,000 after acquiring an additional 408 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC boosted its position in shares of Charles Schwab by 5.5% during the third quarter. Signature Estate & Investment Advisors LLC now owns 6,596 shares of the financial services provider’s stock worth $427,000 after acquiring an additional 345 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 501,087 shares of company stock worth $40,952,233. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 5.1 %

NYSE SCHW opened at $77.28 on Monday. 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 market capitalization of $140.15 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The company’s 50-day simple moving average is $78.47 and its two-hundred day simple moving average is $74.39. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. Equities analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SCHW shares. Piper Sandler upped their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and increased their price objective for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Redburn Partners lowered their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Finally, Truist Financial increased their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $86.33.

About Charles Schwab

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.