Legacy Financial Advisors Inc. Makes New $278,000 Investment in The Charles Schwab Co. (NYSE:SCHW)

Legacy Financial Advisors Inc. acquired a new stake in The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,041 shares of the financial services provider’s stock, valued at approximately $278,000.

A number of other hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its holdings in Charles Schwab by 26.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after acquiring an additional 6,195,934 shares during the period. Ameriprise Financial Inc. boosted its stake in Charles Schwab by 186.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after purchasing an additional 4,624,302 shares during the period. Van ECK Associates Corp grew its holdings in Charles Schwab by 134.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider’s stock valued at $290,986,000 after buying an additional 3,038,517 shares in the last quarter. Lazard Asset Management LLC increased its position in Charles Schwab by 31.1% during the 3rd quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock worth $397,877,000 after buying an additional 1,717,137 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of Charles Schwab by 3,123.9% in the third quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider’s stock valued at $74,686,000 after acquiring an additional 1,318,203 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total transaction of $587,610.00. Following the completion of the sale, the director now owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Charles R. Schwab sold 59,906 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $74.78, for a total transaction of $4,479,770.68. Following the sale, the chairman now directly owns 61,038,701 shares in the company, valued at approximately $4,564,474,060.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total transaction of $587,610.00. Following the sale, the director now owns 585,057 shares in the company, valued at $38,198,371.53. The disclosure for this sale can be found here. Over the last three months, insiders sold 514,459 shares of company stock valued at $36,371,155. 6.60% of the stock is owned by insiders.

Charles Schwab Trading Up 0.9 %

Shares of Charles Schwab stock traded up $0.71 on Friday, reaching $76.04. 5,414,735 shares of the company’s stock were exchanged, compared to its average volume of 7,577,556. The company has a market capitalization of $135.05 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98. The Charles Schwab Co. has a 52 week low of $45.65 and a 52 week high of $76.47. The firm’s 50-day moving average is $70.75 and its two-hundred day moving average is $64.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Piper Sandler upped their target price on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Finally, TD Cowen upped their price objective on shares of Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average price target of $74.47.

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.