B. Riley Wealth Advisors Inc. lifted its holdings in The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 43.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 54,719 shares of the financial services provider’s stock after purchasing an additional 16,632 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Charles Schwab were worth $3,726,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of SCHW. West Branch Capital LLC bought a new stake in Charles Schwab in the 3rd quarter valued at $25,000. Selway Asset Management acquired a new stake in shares of Charles Schwab during the 3rd quarter worth $29,000. Worth Asset Management LLC acquired a new stake in shares of Charles Schwab during the 1st quarter worth $32,000. Exos TFP Holdings LLC bought a new stake in Charles Schwab during the third quarter worth $34,000. Finally, IAG Wealth Partners LLC bought a new stake in shares of Charles Schwab in the third quarter valued at $36,000. 73.49% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Citigroup upgraded Charles Schwab from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $83.00 to $75.00 in a research note on Monday. Credit Suisse Group raised Charles Schwab from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $81.50 to $67.50 in a research report on Wednesday. Morgan Stanley decreased their target price on Charles Schwab from $104.00 to $99.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $88.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, January 12th. Finally, Barclays cut their price target on Charles Schwab from $87.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.04.
Charles Schwab Stock Performance
Charles Schwab (NYSE:SCHW – Get Rating) last posted its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). Charles Schwab had a return on equity of 24.94% and a net margin of 34.60%. The company had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the previous year, the business posted $0.86 EPS. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, analysts expect that The Charles Schwab Co. will post 4.27 EPS for the current year.
Charles Schwab Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were paid a dividend of $0.25 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, February 9th. Charles Schwab’s dividend payout ratio (DPR) is currently 28.57%.
Insider Buying and Selling at Charles Schwab
In other news, insider Jonathan M. Craig sold 51,144 shares of Charles Schwab stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $80.30, for a total value of $4,106,863.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Charles Schwab news, insider Jonathan M. Craig sold 51,144 shares of Charles Schwab stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $80.30, for a total transaction of $4,106,863.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 62,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $81.54, for a total transaction of $5,096,250.00. Following the completion of the transaction, the chairman now directly owns 30,731,256 shares of the company’s stock, valued at approximately $2,505,826,614.24. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 69,000 shares of company stock worth $4,056,680 and have sold 728,106 shares worth $58,067,403. 6.90% of the stock is currently owned by company insiders.
Charles Schwab Company Profile
The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.
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