C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $204,000 Position in The Charles Schwab Co. (NYSE:SCHW)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,757 shares of the financial services provider’s stock, valued at approximately $204,000.

Several other institutional investors have also recently made changes to their positions in SCHW. Franklin Resources Inc. increased its stake in shares of Charles Schwab by 15.0% during 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 buying an additional 3,157,923 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Charles Schwab by 6.3% during 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 buying an additional 1,711,312 shares during the period. AustralianSuper Pty Ltd grew its stake in 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 purchasing an additional 1,644,931 shares during the last quarter. KBC Group NV grew its stake in Charles Schwab by 186.7% in the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock valued at $158,236,000 after purchasing an additional 1,392,255 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new position in Charles Schwab in the third quarter valued at about $86,845,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the business’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 completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s 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 transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 490,120 shares of company stock valued at $40,127,472. 6.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on SCHW. Piper Sandler lifted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. 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 note on Friday, December 20th. Redburn Partners cut their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and lifted their target price for the company from $88.00 to $103.00 in a research note on Tuesday. Finally, Citigroup lifted their target price on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Trading Down 0.2 %

Charles Schwab stock opened at $81.88 on Friday. 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 Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a market capitalization of $145.84 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99. The stock has a 50-day moving average price of $77.97 and a 200 day moving average price of $72.83.

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

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.27 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.32%. Charles Schwab’s payout ratio is presently 36.12%.

Charles Schwab Company 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.