Forbes J M & Co. LLP Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Forbes J M & Co. LLP bought a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,200 shares of the financial services provider’s stock, valued at approximately $311,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Merit Financial Group LLC lifted its position in shares of Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Charles Schwab by 2,840.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 5,937 shares during the period. Synovus Financial Corp raised its holdings in Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in Charles Schwab during the fourth quarter valued at $688,000. Finally, Golden State Equity Partners boosted its holdings in shares of Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after buying an additional 9,108 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SCHW shares. Cowen lifted their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Raymond James lowered their target price on shares of Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. UBS Group upped their price target on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Truist Financial reiterated a “buy” rating and set a $90.00 price objective (up previously from $86.00) on shares of Charles Schwab in a research note on Wednesday, January 22nd. Finally, Citigroup raised their price target on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $84.50.

Charles Schwab Stock Down 0.5 %

SCHW opened at $83.18 on Friday. The firm’s 50 day simple moving average is $78.00 and its two-hundred day simple moving average is $71.78. The company has a market capitalization of $148.04 billion, a PE ratio of 27.82, a PEG ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.04. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for 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%. Charles Schwab’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, equities analysts forecast that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.30%. Charles Schwab’s payout ratio is 33.44%.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares in the company, 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. In the last 90 days, insiders have sold 50,014 shares of company stock worth $4,052,281. Company insiders own 6.60% of the company’s stock.

Charles Schwab 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.