Acas LLC Takes Position in The Charles Schwab Co. (NYSE:SCHW)

Acas LLC purchased a new stake in The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,801 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Catalina Capital Group LLC raised its position in shares of Charles Schwab by 14.4% in the third quarter. Catalina Capital Group LLC now owns 3,868 shares of the financial services provider’s stock valued at $251,000 after buying an additional 488 shares in the last quarter. M&G PLC raised its position in Charles Schwab by 4.0% during the third quarter. M&G PLC now owns 146,129 shares of the financial services provider’s stock valued at $9,498,000 after purchasing an additional 5,600 shares in the last quarter. Financial Enhancement Group LLC acquired a new position in Charles Schwab during the third quarter valued at approximately $4,244,000. Graypoint LLC raised its position in Charles Schwab by 8.2% during the third quarter. Graypoint LLC now owns 8,828 shares of the financial services provider’s stock valued at $572,000 after purchasing an additional 670 shares in the last quarter. Finally, Advisor Resource Council acquired a new position in Charles Schwab during the third quarter valued at approximately $312,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several research analyst reports. UBS Group boosted their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Redburn Partners lowered their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Morgan Stanley boosted their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Finally, Piper Sandler boosted their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Charles Schwab has an average rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Down 1.6 %

SCHW opened at $75.53 on Friday. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $136.97 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The company has a 50 day moving average of $78.50 and a 200 day moving average of $73.86.

Charles Schwab (NYSE:SCHW) last released its quarterly 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 business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, sell-side analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company 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. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.43%. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the sale, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,200 shares of company stock worth $40,206,950 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

About Charles Schwab

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.