Van Cleef Asset Management Inc Has $10.66 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Van Cleef Asset Management Inc lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 143,969 shares of the financial services provider’s stock after selling 599 shares during the quarter. Charles Schwab makes up 1.2% of Van Cleef Asset Management Inc’s investment portfolio, making the stock its 20th biggest holding. Van Cleef Asset Management Inc’s holdings in Charles Schwab were worth $10,655,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SCHW. Gladstone Institutional Advisory LLC increased its stake in shares of Charles Schwab by 2.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider’s stock valued at $462,000 after buying an additional 124 shares during the period. N.E.W. Advisory Services LLC boosted its holdings in Charles Schwab by 1.7% in the fourth quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider’s stock valued at $557,000 after acquiring an additional 125 shares during the last quarter. Klingman & Associates LLC increased its position in Charles Schwab by 3.2% during the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 125 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in Charles Schwab by 2.7% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 127 shares during the last quarter. Finally, Stablepoint Partners LLC lifted its position in shares of Charles Schwab by 1.1% in the 4th quarter. Stablepoint Partners LLC now owns 12,486 shares of the financial services provider’s stock worth $924,000 after purchasing an additional 141 shares during the period. Institutional investors own 84.38% of the company’s stock.

Insider Activity

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’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. Insiders sold a total of 487,820 shares of company stock worth $39,938,849 over the last quarter. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $78.53 on Friday. The stock has a market cap of $139.87 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 0.99 and a beta of 0.99. 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 Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The firm’s 50-day simple moving average is $78.27 and its 200 day simple moving average is $73.41.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating 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 company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.27 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.38%. Charles Schwab’s dividend payout ratio is presently 36.12%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SCHW. Truist Financial increased their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Citigroup raised their target price on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Jefferies Financial Group boosted their price target on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Morgan Stanley increased their price target on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently 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.