Summitry LLC Acquires 10,673 Shares of The Charles Schwab Co. (NYSE:SCHW)

Summitry LLC boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,016,139 shares of the financial services provider’s stock after acquiring an additional 10,673 shares during the quarter. Charles Schwab comprises 3.7% of Summitry LLC’s holdings, making the stock its 9th largest holding. Summitry LLC owned approximately 0.06% of Charles Schwab worth $75,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $38,000. Atala Financial Inc purchased a new stake in Charles Schwab in the fourth quarter valued at approximately $41,000. Knuff & Co LLC lifted its stake in Charles Schwab by 1,309.3% during the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 563 shares in the last quarter. Financial Life Planners purchased a new position in shares of Charles Schwab during the fourth quarter worth $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Charles Schwab in the fourth quarter valued at $46,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The shares were 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 directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock worth $40,952,233 over the last 90 days. 6.60% of the stock is currently owned by insiders.

Charles Schwab Stock Up 1.1 %

Shares of NYSE:SCHW opened at $80.81 on Wednesday. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. 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 stock has a market cap of $146.55 billion, a P/E ratio of 27.03, a P/E/G ratio of 0.99 and a beta of 0.98. The firm has a fifty day moving average price of $79.31 and a 200 day moving average price of $75.11.

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

Charles Schwab Increases Dividend

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

Wall Street Analyst Weigh In

SCHW has been the topic of several research reports. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. UBS Group increased their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Redburn Partners reduced their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $86.33.

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.