Maridea Wealth Management LLC Takes $302,000 Position in The Charles Schwab Co. (NYSE:SCHW)

Maridea Wealth Management LLC purchased a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,074 shares of the financial services provider’s stock, valued at approximately $302,000.

Other hedge funds have also added to or reduced their stakes in the company. Merit Financial Group LLC grew its holdings in 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 acquiring an additional 23,383 shares during the period. Benjamin Edwards Inc. grew its stake in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares during the period. Synovus Financial Corp increased its holdings in Charles Schwab by 46.0% in the third 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. Oregon Pacific Wealth Management LLC acquired a new position in Charles Schwab in the fourth quarter valued at about $688,000. Finally, Golden State Equity Partners boosted its holdings in Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after buying an additional 9,108 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $77.79 on Friday. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company’s fifty day simple moving average is $79.55 and its 200-day simple moving average is $75.36. The firm has a market cap of $141.08 billion, a PE ratio of 26.02, a P/E/G ratio of 0.99 and a beta of 0.98. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

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 firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. Equities research analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.39%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders have sold 509,701 shares of company stock worth $41,641,353 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of analyst reports. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Jefferies Financial Group increased their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JMP Securities reissued 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. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler boosted their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $86.33.

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.