New York Life Investment Management LLC Has $14.86 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

New York Life Investment Management LLC raised its stake in The Charles Schwab Co. (NYSE:SCHW) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 200,835 shares of the financial services provider’s stock after buying an additional 1,693 shares during the quarter. New York Life Investment Management LLC’s holdings in Charles Schwab were worth $14,864,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SCHW. Apriem Advisors boosted its position in shares of Charles Schwab by 2.7% during the fourth quarter. Apriem Advisors now owns 7,929 shares of the financial services provider’s stock worth $587,000 after buying an additional 211 shares during the period. Whipplewood Advisors LLC bought a new stake in Charles Schwab in the 4th quarter valued at approximately $46,000. Pointe Capital Management LLC grew its stake in shares of Charles Schwab by 13.4% during the 4th quarter. Pointe Capital Management LLC now owns 8,541 shares of the financial services provider’s stock worth $632,000 after acquiring an additional 1,011 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Charles Schwab by 2.7% during the 4th quarter. Checchi Capital Advisers LLC now owns 14,219 shares of the financial services provider’s stock worth $1,052,000 after acquiring an additional 376 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC acquired a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $356,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their target price on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Redburn Partners reduced their price target on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Finally, Morgan Stanley boosted their price target on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Stock Performance

NYSE SCHW opened at $78.53 on Friday. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The stock has a market cap of $139.87 billion, a PE ratio of 26.26, a P/E/G ratio of 0.99 and a beta of 0.99. The firm has a 50-day moving average of $78.27 and a 200-day moving average of $73.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 represents a $1.08 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insider Activity

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 487,820 shares of company stock valued at $39,938,849. 6.60% of the stock is owned by company insiders.

About Charles Schwab

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.