Marcum Wealth LLC Lowers Stake in The Charles Schwab Co. (NYSE:SCHW)

Marcum Wealth LLC cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,503 shares of the financial services provider’s stock after selling 206 shares during the period. Marcum Wealth LLC’s holdings in Charles Schwab were worth $703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SCHW. Benjamin Edwards Inc. boosted its holdings in Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after buying an additional 5,937 shares during the last quarter. Synovus Financial Corp lifted its position 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 valued at $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN boosted its stake in shares of Charles Schwab by 155.9% in 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. Equity Investment Corp increased its position in shares of Charles Schwab by 9.4% during the third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock worth $106,299,000 after purchasing an additional 140,643 shares in the last quarter. Finally, Teewinot Capital Advisers L.L.C. raised its stake in Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after purchasing an additional 64,041 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SCHW shares. Cowen increased their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Citigroup decreased their target price on shares of Charles Schwab from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Morgan Stanley increased their price target on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their price objective on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.69.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the sale, the insider now directly owns 59,092 shares in the company, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,968 shares of company stock worth $8,842,821 in the last ninety days. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Trading Down 0.2 %

Shares of NYSE SCHW opened at $72.64 on Tuesday. The stock has a fifty day simple moving average of $77.60 and a 200-day simple moving average of $70.59. The Charles Schwab Co. has a twelve month low of $59.67 and a twelve month high of $83.35. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $129.27 billion, a PE ratio of 28.38, a PEG ratio of 1.76 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

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.