Cynosure Group LLC Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

Cynosure Group LLC boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 4.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,480 shares of the financial services provider’s stock after purchasing an additional 516 shares during the quarter. Cynosure Group LLC’s holdings in Charles Schwab were worth $744,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of SCHW. B. Riley Wealth Advisors Inc. lifted its stake in shares of Charles Schwab by 4.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 39,956 shares of the financial services provider’s stock valued at $2,890,000 after purchasing an additional 1,850 shares in the last quarter. Comerica Bank lifted its position in Charles Schwab by 0.7% during the first quarter. Comerica Bank now owns 366,519 shares of the financial services provider’s stock valued at $26,514,000 after buying an additional 2,491 shares in the last quarter. Plato Investment Management Ltd grew its stake in Charles Schwab by 806.6% during the first quarter. Plato Investment Management Ltd now owns 23,898 shares of the financial services provider’s stock worth $1,729,000 after buying an additional 21,262 shares during the period. New Covenant Trust Company N.A. acquired a new stake in shares of Charles Schwab in the first quarter worth $78,000. Finally, Kozak & Associates Inc. raised its stake in shares of Charles Schwab by 5.9% in the 1st quarter. Kozak & Associates Inc. now owns 131,482 shares of the financial services provider’s stock valued at $10,261,000 after acquiring an additional 7,296 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Activity

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This represents a 1.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the sale, the director now directly owns 442,807 shares in the company, valued at $36,057,774.01. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,668 shares of company stock valued at $9,230,648. 6.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SCHW shares. The Goldman Sachs Group upped their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Jefferies Financial Group lowered their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Citigroup dropped their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. JMP Securities upped their price target on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 16th. Finally, Piper Sandler lifted their price objective on shares of Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $74.18.

Charles Schwab Price Performance

Shares of SCHW opened at $82.22 on Wednesday. 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 has a market cap of $146.32 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 1.77 and a beta of 0.96. The Charles Schwab Co. has a 52 week low of $55.59 and a 52 week high of $82.50. The stock has a 50 day moving average of $71.28 and a 200-day moving average of $69.85.

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

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Charles Schwab’s payout ratio is currently 39.06%.

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.