Broyhill Asset Management Takes Position in The Charles Schwab Co. (NYSE:SCHW)

Broyhill Asset Management purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,989 shares of the financial services provider's stock, valued at approximately $1,701,000. Charles Schwab makes up about 1.5% of Broyhill Asset Management's investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of SCHW. Principal Financial Group Inc. raised its stake in Charles Schwab by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider's stock worth $432,536,000 after acquiring an additional 38,201 shares in the last quarter. Anchor Investment Management LLC increased its holdings in Charles Schwab by 11.2% in the third quarter. Anchor Investment Management LLC now owns 36,229 shares of the financial services provider's stock valued at $2,348,000 after buying an additional 3,637 shares in the last quarter. Sculati Wealth Management LLC grew its position in shares of Charles Schwab by 0.7% in the third quarter. Sculati Wealth Management LLC now owns 42,988 shares of the financial services provider's stock valued at $2,786,000 after purchasing an additional 315 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Charles Schwab during the third quarter valued at $9,211,000. Finally, Sfmg LLC grew its stake in Charles Schwab by 2.5% during the third quarter. Sfmg LLC now owns 58,542 shares of the financial services provider's stock worth $3,794,000 after buying an additional 1,444 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 1.1 %

Shares of NYSE:SCHW traded up $0.82 during trading on Friday, reaching $76.52. 19,270,925 shares of the company traded hands, compared to its average volume of 9,292,439. 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 1-year low of $61.01 and a 1-year high of $84.50. The firm has a fifty day simple moving average of $77.30 and a 200 day simple moving average of $76.40. The firm has a market cap of $138.77 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. During the same period in the previous year, the company earned $0.74 earnings per share. Analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.27 per share. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, February 14th. Charles Schwab's dividend payout ratio is currently 36.12%.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Morgan Stanley raised Charles Schwab from an "equal weight" rating to an "overweight" rating and set a $76.00 price target on the stock in a report on Tuesday, April 8th. Truist Financial decreased their price target on Charles Schwab from $91.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, April 4th. JPMorgan Chase & Co. restated an "outperform" rating and issued a $92.00 price objective on shares of Charles Schwab in a report on Wednesday. JPMorgan analyst Kenneth Worthington reiterated an Overweight rating and $92 target. Ahead of earnings, he highlighted Schwab’s earnings model and positive impact of rising cash allocations. Finally, JMP Securities lowered their target price on Charles Schwab from $96.00 to $94.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and an average price target of $85.44.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.43, for a total transaction of $261,713.40. Following the sale, the insider now directly owns 45,824 shares of the company's stock, valued at approximately $3,548,152.32. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock valued at $41,903,066 in the last 90 days. 6.30% of the stock is currently owned by insiders.

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.