Edgemoor Investment Advisors Inc. Grows Stake in The Charles Schwab Co. (NYSE:SCHW)

Edgemoor Investment Advisors Inc. raised its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,394 shares of the financial services provider’s stock after acquiring an additional 1,733 shares during the quarter. Charles Schwab makes up 1.2% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 21st biggest position. Edgemoor Investment Advisors Inc.’s holdings in Charles Schwab were worth $13,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCHW. Prospera Private Wealth LLC purchased a new stake in shares of Charles Schwab during the 3rd quarter valued at approximately $31,000. Peterson Financial Group Inc. purchased a new stake in shares of Charles Schwab during the 3rd quarter valued at approximately $35,000. Atala Financial Inc purchased a new stake in Charles Schwab in the 4th quarter worth approximately $41,000. Knuff & Co LLC lifted its stake in Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 563 shares in the last quarter. Finally, Financial Life Planners purchased a new stake in Charles Schwab in the 4th quarter worth approximately $46,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 5.1 %

Shares of SCHW opened at $77.28 on Monday. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. 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 firm’s 50-day moving average price is $78.47 and its 200-day moving average price is $74.39. The firm has a market capitalization of $140.15 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $5.19 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. Sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.40%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is presently 36.12%.

Insider Buying and Selling

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction dated 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 approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul V. Woolway sold 9,887 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following 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 have sold 501,087 shares of company stock valued at $40,952,233 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Truist Financial increased their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Citigroup increased their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Barclays increased their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Redburn Partners decreased their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Company 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.