Hardy Reed LLC Buys 166 Shares of The Charles Schwab Co. (NYSE:SCHW)

Hardy Reed LLC lifted its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,225 shares of the financial services provider’s stock after purchasing an additional 166 shares during the quarter. Hardy Reed LLC’s holdings in Charles Schwab were worth $979,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp increased 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 worth $4,023,175,000 after purchasing an additional 414,949 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Charles Schwab by 1.5% in 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 last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after acquiring an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Charles Schwab by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after purchasing an additional 493,264 shares during the period. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Up 0.7 %

SCHW stock opened at $82.03 on Thursday. The company has a market cap of $146.11 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 0.99 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The firm has a 50-day moving average of $77.98 and a two-hundred day moving average of $72.76.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data 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 net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. As a group, analysts forecast 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 will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.27 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.32%. Charles Schwab’s dividend payout ratio is 36.12%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Barclays upped their price target on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Truist Financial boosted their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $86.33.

Insider Activity

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 502,859 shares of company stock valued at $41,161,496 in the last 90 days. 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.