Modern Wealth Management LLC Purchases 1,945 Shares of The Charles Schwab Co. (NYSE:SCHW)

Modern Wealth Management LLC increased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 39.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,921 shares of the financial services provider’s stock after acquiring an additional 1,945 shares during the period. Modern Wealth Management LLC’s holdings in Charles Schwab were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Charles Schwab by 0.6% in the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after buying an additional 38,201 shares in the last quarter. United Bank increased its stake in Charles Schwab by 13.0% in the 3rd quarter. United Bank now owns 11,352 shares of the financial services provider’s stock worth $736,000 after acquiring an additional 1,309 shares during the last quarter. Quest Partners LLC purchased a new position in Charles Schwab in the 3rd quarter worth approximately $270,000. Kingsview Wealth Management LLC boosted its holdings in shares of Charles Schwab by 7.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 6,747 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 477 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Charles Schwab during the third quarter worth approximately $88,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SCHW has been the subject of several analyst reports. Jefferies Financial Group increased their target price on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and increased their price objective for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods upped their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price objective for the company 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, six have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average price target of $86.33.

Insider Activity

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction on 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 transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now directly owns 18,617 shares in the company, valued at $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 501,087 shares of company stock worth $40,952,233. Insiders own 6.60% of the company’s stock.

Charles Schwab Trading Down 0.8 %

NYSE SCHW opened at $80.12 on Thursday. The firm has a market capitalization of $145.30 billion, a PE ratio of 26.80, a P/E/G ratio of 0.99 and a beta of 0.98. The stock’s 50 day moving average is $79.44 and its 200 day moving average is $75.14. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. 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 announced 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. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. Research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid 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 of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.35%. Charles Schwab’s dividend payout ratio (DPR) 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.