Holderness Investments Co. Buys Shares of 2,760 The Charles Schwab Co. (NYSE:SCHW)

Holderness Investments Co. purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, HoldingsChannel reports. The fund purchased 2,760 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other institutional investors have also modified their holdings of the company. iA Global Asset Management Inc. grew its holdings in Charles Schwab by 77.2% in the fourth quarter. iA Global Asset Management Inc. now owns 13,812 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 6,017 shares during the period. Magnetar Financial LLC acquired a new position in shares of Charles Schwab in the 4th quarter valued at about $241,000. Teacher Retirement System of Texas grew its holdings in shares of Charles Schwab by 833.4% during the 4th quarter. Teacher Retirement System of Texas now owns 94,412 shares of the financial services provider’s stock worth $6,987,000 after purchasing an additional 84,297 shares during the period. Royal London Asset Management Ltd. increased its position in Charles Schwab by 0.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 1,186,342 shares of the financial services provider’s stock worth $87,801,000 after purchasing an additional 3,434 shares in the last quarter. Finally, GM Advisory Group LLC lifted its position in Charles Schwab by 3.8% during the fourth quarter. GM Advisory Group LLC now owns 20,736 shares of the financial services provider’s stock valued at $1,535,000 after buying an additional 750 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SCHW. UBS Group raised their target price 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. Truist Financial raised their price objective on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Citigroup boosted their price target on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Barclays increased their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $86.33.

Insider Buying and Selling

In other news, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the transaction, the insider now owns 57,818 shares of the company’s stock, valued at approximately $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares of the company’s stock, valued at $1,523,242.94. The trade was a 31.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 501,087 shares of company stock valued at $40,952,233. Insiders own 6.60% of the company’s stock.

Charles Schwab Trading Down 0.1 %

NYSE:SCHW opened at $78.47 on Friday. The company has a market cap of $142.30 billion, a PE ratio of 26.24, a P/E/G ratio of 0.99 and a beta of 0.98. The business’s 50 day moving average is $78.99 and its two-hundred day moving average is $74.72. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) 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 company had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.38%. Charles Schwab’s dividend payout ratio is 36.12%.

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.