NEOS Investment Management LLC Has $6.56 Million Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

NEOS Investment Management LLC lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 31.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 88,576 shares of the financial services provider’s stock after buying an additional 21,152 shares during the period. NEOS Investment Management LLC’s holdings in Charles Schwab were worth $6,556,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Charles Schwab by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock valued at $432,536,000 after buying an additional 38,201 shares in the last quarter. United Bank raised its position in Charles Schwab by 13.0% during the third quarter. United Bank now owns 11,352 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 1,309 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Charles Schwab by 7.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 6,747 shares of the financial services provider’s stock valued at $437,000 after purchasing an additional 477 shares in the last quarter. Bridgewater Associates LP acquired a new stake in shares of Charles Schwab in the 3rd quarter valued at $1,754,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Charles Schwab by 3.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 541,079 shares of the financial services provider’s stock valued at $35,067,000 after purchasing an additional 20,066 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SCHW. JMP Securities restated a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and increased their target price for the stock from $88.00 to $103.00 in a report on Tuesday, February 18th. Redburn Partners decreased their price target 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. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley raised their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. 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 stock. According to MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average target price of $86.33.

Charles Schwab Trading Down 0.6 %

Shares of SCHW stock opened at $79.63 on Friday. The stock has a 50-day moving average of $79.52 and a 200-day moving average of $75.17. 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 stock has a market cap of $144.42 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50.

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

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.27 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.36%. Charles Schwab’s payout ratio is presently 36.12%.

Insiders Place Their Bets

In other news, Director Arun Sarin sold 8,548 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the transaction, the director now owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This represents a 31.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,380 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the sale, the insider now owns 57,818 shares of the company’s stock, valued at approximately $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 509,701 shares of company stock worth $41,641,353. Company insiders own 6.60% of the company’s stock.

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.