Wealthspire Advisors LLC Boosts Position in The Charles Schwab Co. (NYSE:SCHW)

Wealthspire Advisors LLC lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,308 shares of the financial services provider’s stock after purchasing an additional 1,232 shares during the quarter. Wealthspire Advisors LLC’s holdings in Charles Schwab were worth $3,353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Washington Trust Advisors Inc. grew its holdings in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Charles Schwab during the third quarter worth about $25,000. Prospera Private Wealth LLC purchased a new position in shares of Charles Schwab during the third quarter worth about $31,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Charles Schwab during the third quarter worth about $33,000. Finally, Planning Capital Management Corp purchased a new position in shares of Charles Schwab during the third quarter worth about $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction 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 SEC, which can be accessed through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the company’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 completion of the sale, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 487,820 shares of company stock worth $39,938,849 over the last quarter. 6.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SCHW shares. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and boosted their target price for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $80.50 on Monday. 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 company has a market cap of $143.38 billion, a PE ratio of 26.92, a P/E/G ratio of 0.99 and a beta of 0.99. The business has a 50 day moving average of $77.98 and a 200 day moving average of $73.10. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50.

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. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently announced 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is currently 36.12%.

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.