The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by Summit Financial LLC

Summit Financial LLC boosted its position in The Charles Schwab Co. (NYSE:SCHW) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,435 shares of the financial services provider’s stock after buying an additional 3,828 shares during the quarter. Summit Financial LLC’s holdings in Charles Schwab were worth $2,623,000 at the end of the most recent quarter.

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

Charles Schwab Stock Up 0.7 %

SCHW stock opened at $78.38 on Tuesday. The firm has a market cap of $142.15 billion, a PE ratio of 26.21, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month 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 firm has a 50 day simple moving average of $79.58 and a 200 day simple moving average of $75.56.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’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 EPS. Equities research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SCHW. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and boosted their price target for the company from $88.00 to $103.00 in a report on Tuesday, February 18th. JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Morgan Stanley boosted their price objective on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. UBS Group raised their target price on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $86.33.

Insiders Place Their Bets

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s 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 sale, the chairman now owns 827,377 shares of the company’s stock, valued at $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 509,701 shares of company stock worth $41,641,353. Company 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.