Kingsview Wealth Management LLC increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Free Report) by 89.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,786 shares of the financial services provider’s stock after acquiring an additional 6,039 shares during the period. Kingsview Wealth Management LLC’s holdings in Charles Schwab were worth $946,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Charles Schwab during the third quarter worth about $25,000. Washington Trust Advisors Inc. grew its holdings in shares of Charles Schwab by 62.6% during the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Charles Schwab during the third quarter worth about $31,000. Planning Capital Management Corp acquired a new stake in Charles Schwab in the third quarter valued at about $33,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Charles Schwab in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.
Insiders Place Their Bets
In other news, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares of the company’s stock, valued at $1,523,242.94. The trade was a 31.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were 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. In the last three months, insiders sold 47,514 shares of company stock valued at $3,859,731. Company insiders own 6.60% of the company’s stock.
Analysts Set New Price Targets
Get Our Latest Stock Report on SCHW
Charles Schwab Trading Up 2.9 %
Shares of Charles Schwab stock opened at $83.51 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The company has a market capitalization of $148.61 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.02 and a beta of 0.99. The business has a 50 day moving average price of $77.99 and a 200 day moving average price of $71.99.
Charles Schwab (NYSE:SCHW – Get Free Report) last released its 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 during 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%. Charles Schwab’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. Sell-side analysts anticipate that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.
Charles Schwab Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.27 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, February 14th. Charles Schwab’s payout ratio is presently 33.44%.
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.
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