W.G. Shaheen & Associates DBA Whitney & Co Raises Position in The Charles Schwab Co. (NYSE:SCHW)

W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 282,092 shares of the financial services provider’s stock after acquiring an additional 761 shares during the period. Charles Schwab comprises approximately 2.2% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 10th biggest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Charles Schwab were worth $20,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. lifted its holdings in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab during the 3rd quarter worth approximately $25,000. Prospera Private Wealth LLC purchased a new position in Charles Schwab during the 3rd quarter valued at $31,000. Hazlett Burt & Watson Inc. bought a new position in Charles Schwab in the 3rd quarter valued at $33,000. Finally, Planning Capital Management Corp purchased a new stake in Charles Schwab in the third quarter worth $33,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 1.6 %

NYSE:SCHW opened at $80.50 on Monday. The firm has a market capitalization of $143.38 billion, a P/E ratio of 26.92, a PEG ratio of 0.99 and a beta of 0.99. The company’s fifty day moving average price is $77.98 and its 200-day moving average price is $73.10. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion for 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%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio is presently 36.12%.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research reports. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Piper Sandler lifted their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. UBS Group upped their target price on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Morgan Stanley lifted their price target on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and upped their price objective for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and a consensus price target of $86.33.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the sale, the director now owns 18,617 shares in the company, valued at $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value 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. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 487,820 shares of company stock valued at $39,938,849. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Company 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.