Canopy Partners LLC Has $1.20 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Canopy Partners LLC boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 68.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,219 shares of the financial services provider’s stock after acquiring an additional 6,615 shares during the quarter. Canopy Partners LLC’s holdings in Charles Schwab were worth $1,200,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Elgethun Capital Management increased its stake in Charles Schwab by 1.4% in the 4th quarter. Elgethun Capital Management now owns 147,774 shares of the financial services provider’s stock valued at $10,937,000 after buying an additional 2,027 shares during the period. Invesco Ltd. grew its holdings in shares of Charles Schwab by 3.0% during the 4th quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider’s stock valued at $1,098,497,000 after acquiring an additional 430,250 shares in the last quarter. FMR LLC raised its holdings in shares of Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock worth $717,898,000 after acquiring an additional 3,974,940 shares in the last quarter. Aster Capital Management DIFC Ltd grew its stake in Charles Schwab by 213.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,606 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 1,094 shares in the last quarter. Finally, Titleist Asset Management LLC raised its stake in shares of Charles Schwab by 13.7% during the 4th quarter. Titleist Asset Management LLC now owns 9,885 shares of the financial services provider’s stock worth $732,000 after purchasing an additional 1,191 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SCHW shares. Jefferies Financial Group increased their price objective on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Morgan Stanley increased their price target 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. JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.94.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. The trade was a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock worth $41,903,066 in the last 90 days. 6.60% of the stock is owned by company insiders.

Charles Schwab Stock Down 7.7 %

SCHW stock opened at $69.07 on Monday. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The company has a market cap of $125.26 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The business’s 50-day simple moving average is $79.09 and its 200 day simple moving average is $75.90. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

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

Charles Schwab Increases Dividend

The business 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. The ex-dividend date was Friday, February 14th. This is a boost 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 1.56%. Charles Schwab’s dividend payout ratio is presently 36.12%.

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.