Broadway Wealth Solutions Inc. Invests $302,000 in The Charles Schwab Co. (NYSE:SCHW)

Broadway Wealth Solutions Inc. bought a new stake in The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,077 shares of the financial services provider’s stock, valued at approximately $302,000.

A number of other large investors have also added to or reduced their stakes in SCHW. Vanguard Group Inc. boosted its position in Charles Schwab by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock valued at $9,516,075,000 after buying an additional 1,187,384 shares during the period. State Street Corp lifted its stake in shares of Charles Schwab by 0.7% in the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after acquiring an additional 414,949 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Charles Schwab by 1.5% during the 3rd 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 period. Franklin Resources Inc. grew its position in Charles Schwab by 15.0% during the 3rd 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 last quarter. Finally, Fisher Asset Management LLC increased its stake in 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 purchasing an additional 265,708 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.6 %

Shares of Charles Schwab stock opened at $79.63 on Friday. The stock has a market capitalization of $144.42 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company has a 50-day simple moving average of $79.52 and a two-hundred day simple moving average of $75.17.

Charles Schwab (NYSE:SCHW) last announced its 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 net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the business earned $0.68 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.36%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is presently 36.12%.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent analyst reports. Barclays raised their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and boosted their price objective for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. UBS Group increased their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Piper Sandler boosted their price target on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Two 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $86.33.

Insider Transactions at Charles Schwab

In related news, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the transaction, the insider now directly owns 57,818 shares in the company, valued at approximately $4,586,123.76. The trade was a 5.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 509,701 shares of company stock worth $41,641,353 in the last quarter. Company insiders own 6.60% of the company’s stock.

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.