Edge Capital Group LLC Raises Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Edge Capital Group LLC lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,625 shares of the financial services provider’s stock after acquiring an additional 304 shares during the quarter. Edge Capital Group LLC’s holdings in Charles Schwab were worth $416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Merit Financial Group LLC increased its holdings in Charles Schwab by 230.1% during 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 acquiring an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. grew 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 purchasing an additional 5,937 shares during the last quarter. Synovus Financial Corp increased its stake in shares of Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC acquired a new position in shares of Charles Schwab during the 4th quarter worth approximately $688,000. Finally, Golden State Equity Partners lifted its stake in Charles Schwab by 293.9% in the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after buying an additional 9,108 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Truist Financial lifted their price objective on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Barclays upped their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and raised their price target for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $86.33.

Insiders Place Their Bets

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 487,820 shares of company stock worth $39,938,849 over the last ninety days. 6.60% of the stock is owned by company insiders.

Charles Schwab Trading Down 0.4 %

SCHW stock opened at $80.16 on Tuesday. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a market cap of $142.78 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 0.99 and a beta of 0.99. 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 business has a fifty day simple moving average of $78.03 and a 200-day simple moving average of $73.22.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results 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. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. On average, equities research analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.35%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. Charles Schwab’s payout ratio is 36.12%.

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.