Horizon Investments LLC Boosts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Horizon Investments LLC lifted its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,624 shares of the financial services provider’s stock after buying an additional 418 shares during the period. Horizon Investments LLC’s holdings in Charles Schwab were worth $1,896,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. PDS Planning Inc grew its position in shares of Charles Schwab by 6.5% in the 4th quarter. PDS Planning Inc now owns 8,212 shares of the financial services provider’s stock valued at $608,000 after buying an additional 503 shares during the last quarter. Mystic Asset Management Inc. grew its position in Charles Schwab by 5.4% during the 4th quarter. Mystic Asset Management Inc. now owns 10,495 shares of the financial services provider’s stock worth $777,000 after purchasing an additional 541 shares during the last quarter. Primecap Management Co. CA grew its position in Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after purchasing an additional 3,216,000 shares during the last quarter. Axxcess Wealth Management LLC grew its position in Charles Schwab by 71.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 13,205 shares of the financial services provider’s stock worth $977,000 after purchasing an additional 5,483 shares during the last quarter. Finally, Edgemoor Investment Advisors Inc. grew its position in Charles Schwab by 1.0% during the 4th quarter. Edgemoor Investment Advisors Inc. now owns 176,394 shares of the financial services provider’s stock worth $13,055,000 after purchasing an additional 1,733 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 0.3 %

Shares of NYSE SCHW opened at $77.52 on Wednesday. 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 Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The firm has a 50-day moving average price of $78.65 and a 200 day moving average price of $74.57. The stock has a market capitalization of $140.58 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the business earned $0.68 earnings per share. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities research 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 announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.39%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is presently 36.12%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and raised their price objective for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Truist Financial raised their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group raised their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two investment 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. According to data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and an average price target of $86.33.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the transaction, the insider now owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction dated 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 transaction, the chairman now owns 827,377 shares of the company’s stock, 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. Over the last quarter, insiders sold 501,087 shares of company stock worth $40,952,233. Insiders own 6.60% of the company’s stock.

Charles Schwab 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.