Root Financial Partners LLC Acquires New Position in The Charles Schwab Co. (NYSE:SCHW)

Root Financial Partners LLC bought a new position in The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, HoldingsChannel.com reports. The fund bought 16,346 shares of the financial services provider’s stock, valued at approximately $1,210,000.

A number of other institutional investors and hedge funds have also bought and sold shares of 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 worth $1,281,000 after purchasing an additional 8,721 shares during the last quarter. Procyon Advisors LLC increased its holdings in shares of Charles Schwab by 5.4% in the third quarter. Procyon Advisors LLC now owns 3,437 shares of the financial services provider’s stock worth $222,000 after buying an additional 176 shares during the period. Creative Planning lifted its stake in shares of Charles Schwab by 18.3% in the 3rd quarter. Creative Planning now owns 511,376 shares of the financial services provider’s stock valued at $31,891,000 after acquiring an additional 79,166 shares during the last quarter. Swedbank AB boosted its holdings in Charles Schwab by 3.7% during the 3rd quarter. Swedbank AB now owns 605,261 shares of the financial services provider’s stock valued at $39,227,000 after acquiring an additional 21,699 shares during the period. Finally, Sumitomo Life Insurance Co. grew its position in Charles Schwab by 2.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 14,666 shares of the financial services provider’s stock worth $951,000 after acquiring an additional 396 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on SCHW. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Barclays raised their price target 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. UBS Group upped their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Morgan Stanley increased their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Truist Financial boosted their price target on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine 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 $84.56.

Charles Schwab Stock Down 0.8 %

NYSE:SCHW opened at $81.64 on Friday. 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 firm’s 50-day moving average price is $78.06 and its 200-day moving average price is $72.18. The company has a market capitalization of $145.29 billion, a PE ratio of 27.30, a P/E/G ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50.

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

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.27 per share. This is a boost 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 yield of 1.32%. Charles Schwab’s payout ratio is presently 33.44%.

Insiders Place Their Bets

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction on Thursday, January 23rd. The shares were 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 approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,514 shares of company stock valued at $3,859,731. 6.60% of the stock is currently owned by corporate insiders.

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.