Carmel Capital Partners LLC Boosts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Carmel Capital Partners LLC increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,451 shares of the financial services provider’s stock after buying an additional 1,784 shares during the period. Charles Schwab comprises about 0.8% of Carmel Capital Partners LLC’s holdings, making the stock its 22nd biggest position. Carmel Capital Partners LLC’s holdings in Charles Schwab were worth $2,106,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in SCHW. Franklin Resources Inc. increased its holdings in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Charles Schwab during the fourth quarter worth about $189,791,000. Veritas Asset Management LLP purchased a new position in shares of Charles Schwab in the fourth quarter worth about $185,649,000. Massachusetts Financial Services Co. MA increased its stake in shares of Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Charles Schwab by 186.7% in the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock worth $158,236,000 after purchasing an additional 1,392,255 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 2.3 %

Shares of Charles Schwab stock opened at $76.88 on Thursday. 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 cap of $139.42 billion, a PE ratio of 25.71, a PEG ratio of 0.99 and a beta of 0.98. 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 has a 50 day simple moving average of $78.49 and a two-hundred day simple moving average of $73.85.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. Analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SCHW shares. Morgan Stanley lifted their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Redburn Partners reduced their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research note on Friday, January 17th. Piper Sandler lifted their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $86.33.

Insider Transactions at Charles Schwab

In related news, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the transaction, the insider now directly owns 57,818 shares of the company’s stock, valued at $4,586,123.76. The trade was a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,200 shares of company stock worth $40,206,950. 6.60% of the stock is currently owned by insiders.

Charles Schwab 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.