Broyhill Asset Management Invests $1.70 Million in The Charles Schwab Co. (NYSE:SCHW)

Broyhill Asset Management bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, HoldingsChannel.com reports. The firm bought 22,989 shares of the financial services provider’s stock, valued at approximately $1,701,000. Charles Schwab makes up about 1.5% of Broyhill Asset Management’s portfolio, making the stock its 22nd biggest position.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SCHW. JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Piper Sandler cut their price objective on Charles Schwab from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. UBS Group raised their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. JMP Securities decreased their price objective on shares of Charles Schwab from $96.00 to $94.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. Finally, Truist Financial reduced their price target on Charles Schwab from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and an average price target of $85.33.

Insider Transactions at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total value of $261,713.40. Following the transaction, the insider now owns 45,824 shares in the company, valued at $3,548,152.32. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 513,081 shares of company stock worth $41,903,066. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

NYSE SCHW opened at $76.97 on Monday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company’s 50 day moving average is $77.77 and its two-hundred day moving average is $76.23. The stock has a market cap of $139.59 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating 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 firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the company earned $0.68 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.27 per share. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.40%. Charles Schwab’s dividend payout ratio is currently 36.12%.

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.