Mainsail Asset Management LLC Takes $202,000 Position in The Charles Schwab Co. (NYSE:SCHW)

Mainsail Asset Management LLC purchased a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,725 shares of the financial services provider’s stock, valued at approximately $202,000.

A number of other large investors have also recently added to or reduced their stakes in SCHW. Franklin Resources Inc. boosted its stake in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after buying an additional 3,157,923 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares during the period. AustralianSuper Pty Ltd increased its holdings in Charles Schwab by 2,617.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after purchasing an additional 1,644,931 shares during the last quarter. KBC Group NV lifted its stake in Charles Schwab by 186.7% during the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock worth $158,236,000 after purchasing an additional 1,392,255 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new position in shares of Charles Schwab during the third quarter worth $86,845,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SCHW shares. UBS Group boosted their price objective on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. Piper Sandler increased their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Citigroup lifted their price objective on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Jefferies Financial Group increased their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $84.56.

Insider Transactions at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The shares were 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 SEC, which is available through this link. Also, Director Arun Sarin sold 8,548 shares of the company’s 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 of the company’s stock, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 502,859 shares of company stock worth $41,161,496. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $80.32 on Monday. The stock’s 50-day simple moving average is $78.03 and its 200-day simple moving average is $72.40. The firm has a market capitalization of $142.94 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

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

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio (DPR) is presently 33.44%.

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.