Root Financial Partners LLC Acquires Shares of 16,346 The Charles Schwab Co. (NYSE:SCHW)

Root Financial Partners LLC bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,346 shares of the financial services provider’s stock, valued at approximately $1,210,000.

Other large investors also recently modified their holdings of the company. Washington Trust Advisors Inc. increased its holdings in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Charles Schwab during the third quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new stake in Charles Schwab during the third quarter worth $31,000. Hazlett Burt & Watson Inc. purchased a new stake in Charles Schwab in the 3rd quarter valued at $33,000. Finally, Planning Capital Management Corp bought a new position in Charles Schwab during the 3rd quarter valued at $33,000. 84.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the transaction, the insider now owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,514 shares of company stock worth $3,859,731. 6.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SCHW shares. Piper Sandler upped their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Barclays upped their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. UBS Group lifted their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. upped 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. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Two 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 MarketBeat, Charles Schwab has a consensus rating of “Hold” and an average target price of $84.56.

Charles Schwab Stock Down 0.8 %

Charles Schwab stock opened at $81.64 on Friday. The firm has a market capitalization of $145.29 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 1.02 and a beta of 0.99. The firm has a 50 day simple moving average of $78.06 and a 200 day simple moving average of $72.18. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. 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 announced its quarterly 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. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, analysts predict that The Charles Schwab Co. will post 4.18 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio 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.