Lake Street Advisors Group LLC Increases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Lake Street Advisors Group LLC boosted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,183 shares of the financial services provider’s stock after purchasing an additional 317 shares during the period. Lake Street Advisors Group LLC’s holdings in Charles Schwab were worth $976,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. grew its position in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Veritas Asset Management LLP acquired a new position in Charles Schwab in the fourth quarter valued at about $185,649,000. Massachusetts Financial Services Co. MA increased its position in shares of Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after acquiring an additional 1,711,312 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in shares of Charles Schwab by 2,617.6% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after acquiring an additional 1,644,931 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Charles Schwab by 186.7% in the 4th quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock worth $158,236,000 after acquiring an additional 1,392,255 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $78.68 on Thursday. The firm’s fifty day simple moving average is $78.17 and its 200-day simple moving average is $73.38. 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 stock has a market cap of $140.15 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $5.19 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Analysts expect that The Charles Schwab Co. will post 4.22 earnings per share 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. Investors of record on Friday, February 14th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.37%. Charles Schwab’s payout ratio is currently 36.12%.

Analyst Ratings Changes

Several research firms recently weighed in on SCHW. Redburn Partners dropped their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. Truist Financial lifted their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley increased their price target on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. 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. Finally, JMP Securities reiterated a “market outperform” rating and set a $94.00 target price (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.33.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 487,820 shares of company stock valued at $39,938,849 in the last 90 days. 6.60% of the stock is currently owned by 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.