The Charles Schwab Co. (NYSE:SCHW) Shares Bought by Red Spruce Capital LLC

Red Spruce Capital LLC increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 7.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 42,031 shares of the financial services provider’s stock after acquiring an additional 2,828 shares during the quarter. Charles Schwab accounts for 1.4% of Red Spruce Capital LLC’s portfolio, making the stock its 26th largest position. Red Spruce Capital LLC’s holdings in Charles Schwab were worth $3,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SCHW. Merit Financial Group LLC raised its position in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Charles Schwab by 2,840.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 5,937 shares during the period. Synovus Financial Corp boosted its holdings in shares of Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after purchasing an additional 21,377 shares during the last quarter. Patten & Patten Inc. TN grew its stake in shares of Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after buying an additional 63,463 shares during the period. Finally, Equity Investment Corp increased its holdings in shares of Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after buying an additional 140,643 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 5.8 %

SCHW opened at $80.88 on Wednesday. The stock has a market capitalization of $143.93 billion, a PE ratio of 31.59, a P/E/G ratio of 1.40 and a beta of 0.99. 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 Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $83.35. The firm’s fifty day moving average price is $77.65 and its 200 day moving average price is $70.62.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5,190,822.51 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. During the same quarter last year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, research analysts expect that The Charles Schwab Co. will post 3.16 EPS for the current fiscal year.

Insider Activity

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now directly owns 442,807 shares in the company, valued at $36,057,774.01. The trade was a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the sale, the insider now owns 59,092 shares in the company, valued at $4,796,497.64. The trade was a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,823 shares of company stock worth $2,171,194. 6.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SCHW shares. Deutsche Bank Aktiengesellschaft lifted their target price on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company decreased their target price on Charles Schwab from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. JMP Securities restated a “market outperform” rating and issued a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $74.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Finally, Piper Sandler raised their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $81.41.

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.