Lee Danner & Bass Inc. Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Lee Danner & Bass Inc. bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,360 shares of the financial services provider’s stock, valued at approximately $101,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Charles Schwab by 23.2% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 25,542 shares of the financial services provider’s stock worth $1,890,000 after acquiring an additional 4,812 shares during the period. Holderness Investments Co. purchased a new position in shares of Charles Schwab during the 4th quarter worth approximately $204,000. iA Global Asset Management Inc. grew its stake in shares of Charles Schwab by 77.2% in the 4th quarter. iA Global Asset Management Inc. now owns 13,812 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 6,017 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Charles Schwab in the 4th quarter worth approximately $241,000. Finally, Teacher Retirement System of Texas grew its stake in shares of Charles Schwab by 833.4% in the 4th quarter. Teacher Retirement System of Texas now owns 94,412 shares of the financial services provider’s stock worth $6,987,000 after buying an additional 84,297 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

NYSE SCHW opened at $78.47 on Friday. The business’s fifty day moving average price is $78.99 and its 200-day moving average price is $74.72. The stock has a market capitalization of $142.30 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 0.99 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50.

Charles Schwab (NYSE:SCHW) last released its quarterly 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. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities analysts predict 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. Investors 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 yield of 1.38%. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SCHW shares. Truist Financial upped their price target on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. UBS Group upped their price target on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Citigroup upped their price target on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Barclays upped their price target on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $86.33.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 9,887 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total value of $745,282.06. Following the sale, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. This represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 501,087 shares of company stock valued at $40,952,233. 6.60% of the stock is owned by company insiders.

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.