16,225 Shares in The Charles Schwab Co. (NYSE:SCHW) Bought by New Century Financial Group LLC

New Century Financial Group LLC acquired a new stake in The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,225 shares of the financial services provider’s stock, valued at approximately $1,208,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Merit Financial Group LLC raised 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 valued at $2,483,000 after purchasing an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. raised its position in shares of Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after buying an additional 5,937 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Charles Schwab by 46.0% in the third 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. Patten & Patten Inc. TN boosted its position in Charles Schwab by 155.9% during the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after acquiring an additional 63,463 shares during the last quarter. Finally, Equity Investment Corp grew its stake in Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after acquiring an additional 140,643 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SCHW shares. 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 research note on Wednesday. Morgan Stanley boosted their price objective on Charles Schwab from $74.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. raised their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Raymond James lowered their price target on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, Truist Financial restated a “buy” rating and set a $90.00 price objective (up from $86.00) on shares of Charles Schwab in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.83.

Insider Activity

In related news, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the sale, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,823 shares of company stock worth $2,171,194. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $81.96 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 company has a market cap of $145.86 billion, a P/E ratio of 27.41, a P/E/G ratio of 1.46 and a beta of 0.99. The stock has a 50-day moving average of $77.75 and a two-hundred day moving average of $70.75. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.35.

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, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5,190,822.51 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. As a group, analysts anticipate that The Charles Schwab Co. will post 4.09 EPS for the current year.

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.