The Charles Schwab Co. (NYSE:SCHW) Stock Position Increased by Elgethun Capital Management

Elgethun Capital Management boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 147,774 shares of the financial services provider’s stock after buying an additional 2,027 shares during the quarter. Charles Schwab accounts for about 2.7% of Elgethun Capital Management’s portfolio, making the stock its 10th largest holding. Elgethun Capital Management’s holdings in Charles Schwab were worth $10,937,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Charles Schwab by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock valued at $9,516,075,000 after purchasing an additional 1,187,384 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Charles Schwab by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock valued at $2,279,742,000 after buying an additional 760,043 shares in the last quarter. Franklin Resources Inc. increased its holdings in Charles Schwab by 15.0% in 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 in the last quarter. Fisher Asset Management LLC grew its position in shares of Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after purchasing an additional 265,708 shares during the period. Finally, Norges Bank acquired a new position in shares of Charles Schwab during the 4th quarter worth about $1,289,544,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $69.07 on Monday. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The firm has a market capitalization of $125.26 billion, a P/E ratio of 23.10, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company’s fifty day moving average price is $79.09 and its 200 day moving average price is $75.90.

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. 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 analysts’ expectations of $5.19 billion. The business’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. As a group, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.27 per share. 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 1.56%. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio is currently 36.12%.

Insider Activity

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction dated 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 transaction, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company’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 disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock valued at $41,903,066 in the last three months. 6.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SCHW has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Truist Financial decreased their target price on shares of Charles Schwab from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.94.

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.