Pointe Capital Management LLC Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

Pointe Capital Management LLC increased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 13.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,541 shares of the financial services provider’s stock after purchasing an additional 1,011 shares during the period. Pointe Capital Management LLC’s holdings in Charles Schwab were worth $632,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC grew its position in Charles Schwab by 2.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 14,219 shares of the financial services provider’s stock valued at $1,052,000 after acquiring an additional 376 shares during the last quarter. Bryn Mawr Capital Management LLC bought a new position in shares of Charles Schwab in the fourth quarter worth about $356,000. Lake Street Advisors Group LLC increased its stake in Charles Schwab by 2.5% in the 4th quarter. Lake Street Advisors Group LLC now owns 13,183 shares of the financial services provider’s stock worth $976,000 after buying an additional 317 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Charles Schwab by 13,948.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,188,624 shares of the financial services provider’s stock valued at $87,970,000 after buying an additional 1,180,163 shares in the last quarter. Finally, Veritas Asset Management LLP purchased a new stake in Charles Schwab in the 4th quarter valued at about $185,649,000. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were 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 available through this link. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 487,820 shares of company stock worth $39,938,849. Company insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $79.01 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company’s fifty day moving average price is $78.07 and its 200-day moving average price is $73.34. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The firm has a market capitalization of $140.74 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts predict 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. Investors of record on Friday, February 14th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is 36.12%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Citigroup lifted their price objective on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Barclays boosted their price target on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $86.33.

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.