Keystone Financial Group Purchases New Shares in The Charles Schwab Co. (NYSE:SCHW)

Keystone Financial Group acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,804 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Charles Schwab by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock worth $9,516,075,000 after purchasing an additional 1,187,384 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock valued at $2,279,742,000 after buying an additional 760,043 shares in the last quarter. Franklin Resources Inc. grew its position in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after buying an additional 3,157,923 shares in the last quarter. Fisher Asset Management LLC increased its stake in Charles Schwab by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after acquiring an additional 265,708 shares during the period. Finally, Norges Bank acquired a new position in Charles Schwab in the 4th quarter valued at $1,289,544,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Activity

In other news, insider Paul V. Woolway sold 3,380 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the completion of the sale, the insider now owns 45,824 shares of the company’s stock, valued at $3,548,152.32. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 513,081 shares of company stock valued at $41,903,066. 6.60% of the stock is currently owned by insiders.

Charles Schwab Price Performance

SCHW stock opened at $76.88 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The company has a market capitalization of $139.43 billion, a P/E ratio of 25.71, a PEG ratio of 0.99 and a beta of 0.91. The company has a fifty day moving average price of $77.67 and a 200-day moving average price of $76.32.

Charles Schwab (NYSE:SCHW) last released its quarterly 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 firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. As a group, equities analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is 36.12%.

Analysts Set New Price Targets

SCHW has been the topic of several analyst reports. Piper Sandler reduced their target price on Charles Schwab from $78.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. UBS Group raised their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and boosted their target price for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Barclays decreased their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Finally, JMP Securities lowered their price objective on shares of Charles Schwab from $96.00 to $94.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.33.

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.