Holderness Investments Co. Makes New $204,000 Investment in The Charles Schwab Co. (NYSE:SCHW)

Holderness Investments Co. purchased a new stake in The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,760 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in shares of Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after purchasing an additional 414,949 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Charles Schwab by 1.5% during the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after acquiring an additional 445,304 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Charles Schwab by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after acquiring an additional 265,708 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Charles Schwab by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 10,438,852 shares of the financial services provider’s stock valued at $772,579,000 after purchasing an additional 60,683 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SCHW shares. UBS Group increased their target price on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and lifted their price objective for the company from $88.00 to $103.00 in a report on Tuesday, February 18th. 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. Piper Sandler boosted their price target 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. Finally, Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Trading Down 0.1 %

NYSE SCHW opened at $78.47 on Friday. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The firm has a 50-day moving average price of $78.99 and a 200 day moving average price of $74.72. The stock has a market capitalization of $142.30 billion, a P/E ratio of 26.24, a P/E/G ratio of 0.99 and a beta of 0.98. 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, 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 for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities research analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 36.12%.

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 9,887 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the transaction, the insider now owns 47,931 shares in the company, valued at $3,613,038.78. This trade represents a 17.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 501,087 shares of company stock worth $40,952,233. 6.60% of the stock is owned by company insiders.

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.