Wealthspire Advisors LLC Grows Stake in The Charles Schwab Co. (NYSE:SCHW)

Wealthspire Advisors LLC raised its stake in The Charles Schwab Co. (NYSE:SCHW) by 2.8% during the fourth quarter, HoldingsChannel reports. The fund owned 45,308 shares of the financial services provider’s stock after buying an additional 1,232 shares during the period. Wealthspire Advisors LLC’s holdings in Charles Schwab were worth $3,353,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SCHW. International Assets Investment Management LLC lifted its holdings in Charles Schwab by 7,559.9% in the third quarter. International Assets Investment Management LLC now owns 889,779 shares of the financial services provider’s stock valued at $57,667,000 after acquiring an additional 878,163 shares during the period. Joel Isaacson & Co. LLC lifted its holdings in Charles Schwab by 22.3% in the third quarter. Joel Isaacson & Co. LLC now owns 7,122 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 1,299 shares during the period. Arkadios Wealth Advisors lifted its holdings in Charles Schwab by 20.6% in the third quarter. Arkadios Wealth Advisors now owns 10,765 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 1,836 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Charles Schwab by 1.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 937,303 shares of the financial services provider’s stock valued at $60,747,000 after acquiring an additional 9,799 shares during the period. Finally, GHP Investment Advisors Inc. lifted its holdings in Charles Schwab by 3.9% in the third quarter. GHP Investment Advisors Inc. now owns 64,077 shares of the financial services provider’s stock valued at $4,153,000 after acquiring an additional 2,402 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. The trade was a 35.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 487,820 shares of company stock worth $39,938,849. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Performance

NYSE:SCHW opened at $80.50 on Monday. 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. The stock’s 50 day simple moving average is $77.98 and its two-hundred day simple moving average is $73.10. The company has a market cap of $143.38 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 0.99 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last announced 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. The firm had revenue of $5.33 billion during 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 quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 EPS. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.27 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s payout ratio is 36.12%.

Analyst Ratings Changes

A number of research firms have weighed in on SCHW. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Redburn Partners decreased their price objective 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. Truist Financial raised their price objective on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Piper Sandler raised 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, JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock 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.