2,870 Shares in The Charles Schwab Co. (NYSE:SCHW) Bought by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. bought a new position in The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,870 shares of the financial services provider’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Merit Financial Group LLC boosted its stake in Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares during the period. Benjamin Edwards Inc. boosted its stake in Charles Schwab by 2,840.7% in the 3rd 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 lifted its position in Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC bought a new stake in Charles Schwab during the 4th quarter worth about $688,000. Finally, Golden State Equity Partners lifted its position in Charles Schwab by 293.9% during the 4th 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 in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SCHW has been the topic of several analyst reports. Piper Sandler boosted their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. UBS Group boosted their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JMP Securities reissued a “market outperform” rating and set a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their price target 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. Finally, Morgan Stanley boosted their price target on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $84.50.

Charles Schwab Trading Up 2.1 %

Shares of SCHW stock opened at $83.62 on Friday. The firm has a 50 day moving average price of $77.97 and a two-hundred day moving average price of $71.57. 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 company has a market capitalization of $148.81 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $83.94.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion during 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 business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. As a group, analysts predict that The Charles Schwab Co. will post 4.18 earnings per share 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. The ex-dividend date is Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.29%. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insider Transactions at Charles Schwab

In related news, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the transaction, the director now directly owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,014 shares of company stock valued at $4,052,281. 6.60% of the stock is currently owned by company insiders.

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.