TAGStone Capital Inc. Boosts Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

TAGStone Capital Inc. grew its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,801 shares of the financial services provider’s stock after purchasing an additional 146 shares during the period. TAGStone Capital Inc.’s holdings in Charles Schwab were worth $503,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Congress Wealth Management LLC DE purchased a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $221,000. Vanguard Group Inc. grew its holdings in shares of Charles Schwab by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock valued at $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. Stevens Capital Management LP purchased a new stake in Charles Schwab in the fourth quarter worth approximately $877,000. LPL Financial LLC boosted its holdings in Charles Schwab by 4.6% in the fourth quarter. LPL Financial LLC now owns 1,258,510 shares of the financial services provider’s stock worth $93,142,000 after purchasing an additional 55,118 shares during the last quarter. Finally, Blueprint Investment Partners LLC purchased a new stake in Charles Schwab in the fourth quarter worth approximately $463,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the transaction, the insider now directly owns 47,931 shares of the company’s stock, valued at $3,613,038.78. The trade was a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock valued at $40,952,233 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 0.1 %

Shares of SCHW stock opened at $78.47 on Monday. 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 company has a market capitalization of $142.30 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 0.99 and a beta of 0.98. The company’s fifty day moving average price is $78.99 and its 200-day moving average price is $74.87. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company 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%. Charles Schwab’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. Sell-side analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.27 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Friday, February 14th. Charles Schwab’s payout ratio is currently 36.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SCHW shares. Piper Sandler raised their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Barclays raised their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Truist Financial raised their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.33.

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.