Cannell & Spears LLC Acquires 448 Shares of The Charles Schwab Co. (NYSE:SCHW)

Cannell & Spears LLC boosted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,273 shares of the financial services provider’s stock after purchasing an additional 448 shares during the period. Cannell & Spears LLC’s holdings in Charles Schwab were worth $390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp bought a new position in Charles Schwab during the 4th quarter worth approximately $38,000. Atala Financial Inc bought a new position in shares of Charles Schwab in the fourth quarter worth approximately $41,000. Knuff & Co LLC increased its stake in shares of Charles Schwab by 1,309.3% in the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after buying an additional 563 shares during the period. Financial Life Planners bought a new stake in Charles Schwab during the 4th quarter valued at $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in Charles Schwab during the 4th quarter valued at $46,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective 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. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and increased their price objective for the stock from $88.00 to $103.00 in a report on Tuesday, February 18th. Piper Sandler boosted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Trading Down 0.8 %

Shares of NYSE SCHW opened at $77.66 on Wednesday. The company has a market cap of $140.84 billion, a PE ratio of 25.97, a P/E/G ratio of 0.99 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s 50 day moving average price is $79.52 and its 200-day moving average price is $75.67. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the company earned $0.68 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.39%. 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. Charles Schwab’s payout ratio is presently 36.12%.

Insider Activity at Charles Schwab

In related news, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, the insider now directly owns 57,818 shares in the company, valued at approximately $4,586,123.76. The trade was a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares in the company, 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. Insiders have sold a total of 509,701 shares of company stock worth $41,641,353 over the last quarter. 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.