Strategic Financial Concepts LLC Invests $2.69 Million in The Charles Schwab Co. (NYSE:SCHW)

Strategic Financial Concepts LLC purchased a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 36,365 shares of the financial services provider’s stock, valued at approximately $2,691,000.

Other institutional investors have also added to or reduced their stakes in the company. Merit Financial Group LLC increased its holdings in shares of Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. grew its position in 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 last quarter. Synovus Financial Corp increased its holdings in Charles Schwab by 46.0% in the 3rd 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 bought a new position in Charles Schwab in the fourth quarter valued at about $688,000. Finally, Golden State Equity Partners grew its holdings in shares of Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after purchasing an additional 9,108 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SCHW has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Cowen raised their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Jefferies Financial Group boosted their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, UBS Group upped their price target on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.50.

Charles Schwab Stock Down 0.5 %

Charles Schwab stock opened at $83.18 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. 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 firm’s fifty day moving average is $78.00 and its 200 day moving average is $71.83. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.04.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The business’s revenue was up 19.5% on a year-over-year basis. As a group, sell-side analysts predict 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. Stockholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.30%. Charles Schwab’s payout ratio is currently 33.44%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were 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 directly owns 59,092 shares in the company, valued at $4,796,497.64. This trade represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,514 shares of company stock valued at $3,859,731 over the last ninety days. 6.60% of the stock is owned by company insiders.

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.