Spartan Planning & Wealth Management Invests $227,000 in The Charles Schwab Co. (NYSE:SCHW)

Spartan Planning & Wealth Management acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,066 shares of the financial services provider’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings 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 valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Darsana Capital Partners LP grew its stake in Charles Schwab by 200.0% in the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after acquiring an additional 2,000,000 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 buying an additional 1,711,312 shares during the last quarter. AustralianSuper Pty Ltd raised its position in shares of Charles Schwab by 2,617.6% in the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after buying an additional 1,644,931 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Charles Schwab during the third quarter worth $86,845,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JMP Securities restated a “market outperform” rating and issued a $94.00 target price (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Cowen lifted their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Jefferies Financial Group lifted their target price on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group lifted their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $81.19.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,968 shares of company stock worth $8,842,821. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Down 2.0 %

Shares of Charles Schwab stock traded down $1.48 during trading on Tuesday, reaching $73.00. 6,474,178 shares of the company were exchanged, compared to its average volume of 6,045,160. The Charles Schwab Co. has a twelve month low of $59.67 and a twelve month high of $83.35. The business has a 50-day moving average price of $77.45 and a 200-day moving average price of $70.62. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $129.92 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 1.76 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $0.77 EPS. Charles Schwab’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, November 8th. Charles Schwab’s payout ratio is presently 39.06%.

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.