Kanawha Capital Management LLC Acquires Shares of 12,623 The Charles Schwab Co. (NYSE:SCHW)

Kanawha Capital Management LLC acquired a new stake in The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,623 shares of the financial services provider’s stock, valued at approximately $934,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. Exchange Traded Concepts LLC lifted its stake in Charles Schwab by 78.9% in the third quarter. Exchange Traded Concepts LLC now owns 19,773 shares of the financial services provider’s stock valued at $1,281,000 after buying an additional 8,721 shares during the last quarter. Procyon Advisors LLC raised its stake in shares of Charles Schwab by 5.4% during the third quarter. Procyon Advisors LLC now owns 3,437 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 176 shares during the last quarter. Creative Planning raised its stake in shares of Charles Schwab by 18.3% during the third quarter. Creative Planning now owns 511,376 shares of the financial services provider’s stock worth $31,891,000 after purchasing an additional 79,166 shares during the last quarter. Swedbank AB raised its stake in shares of Charles Schwab by 3.7% during the third quarter. Swedbank AB now owns 605,261 shares of the financial services provider’s stock worth $39,227,000 after purchasing an additional 21,699 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its stake in shares of Charles Schwab by 2.8% during the third quarter. Sumitomo Life Insurance Co. now owns 14,666 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 396 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was 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 owns 18,617 shares in the company, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the sale, the insider now owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. This trade represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,514 shares of company stock worth $3,859,731 in the last three months. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Performance

NYSE SCHW opened at $81.64 on Friday. The business’s 50-day moving average price is $78.06 and its 200 day moving average price is $72.18. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The company has a market capitalization of $145.29 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. On average, research analysts predict that The Charles Schwab Co. will post 4.18 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is 33.44%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SCHW. Piper Sandler upped their price target on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. UBS Group upped their price objective on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Redburn Partners dropped their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. upped their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, Barclays upped their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $84.56.

Charles Schwab 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.