Spire Wealth Management Buys 8,883 Shares of The Charles Schwab Corporation $SCHW

Spire Wealth Management raised its stake in The Charles Schwab Corporation (NYSE:SCHW) by 15.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,229 shares of the financial services provider’s stock after purchasing an additional 8,883 shares during the period. Spire Wealth Management’s holdings in Charles Schwab were worth $6,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SCHW. Princeton Global Asset Management LLC purchased a new position in shares of Charles Schwab in the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC acquired a new stake in Charles Schwab in the second quarter valued at approximately $27,000. West Branch Capital LLC acquired a new stake in Charles Schwab in the third quarter valued at approximately $27,000. Mid American Wealth Advisory Group Inc. purchased a new position in Charles Schwab in the second quarter worth $32,000. Finally, Hoese & Co LLP increased its position in shares of Charles Schwab by 131.6% during the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,168,454. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SCHW. Keefe, Bruyette & Woods raised their price objective on Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Wolfe Research reissued an “outperform” rating and issued a $122.00 price target on shares of Charles Schwab in a report on Wednesday. UBS Group upped their price objective on shares of Charles Schwab from $119.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley increased their price objective on shares of Charles Schwab from $139.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Finally, Cowen reissued a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $110.80.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $101.90 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $104.76. The business has a 50-day simple moving average of $96.08 and a 200-day simple moving average of $94.93. The stock has a market cap of $181.06 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 0.72 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. On average, equities analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.