Allworth Financial LP Acquires 6,521 Shares of The Charles Schwab Co. (NYSE:SCHW)

Allworth Financial LP grew its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 25.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,867 shares of the financial services provider's stock after purchasing an additional 6,521 shares during the quarter. Allworth Financial LP's holdings in Charles Schwab were worth $2,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Charles Schwab during the 3rd quarter worth approximately $25,000. Washington Trust Advisors Inc. raised its stake in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider's stock worth $25,000 after buying an additional 149 shares during the period. Prospera Private Wealth LLC acquired a new position in Charles Schwab during the 3rd quarter worth approximately $31,000. Planning Capital Management Corp acquired a new position in Charles Schwab during the 3rd quarter worth approximately $33,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in Charles Schwab during the 3rd quarter worth approximately $33,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Arun Sarin sold 8,548 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now directly owns 18,617 shares of the company's stock, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares of the company's stock, valued at $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. Insiders sold 490,120 shares of company stock valued at $40,127,472 over the last ninety days. 6.60% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

NYSE:SCHW traded down $1.33 during trading hours on Friday, reaching $80.50. The stock had a trading volume of 9,855,515 shares, compared to its average volume of 12,402,950. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50 day simple moving average of $77.98 and a 200 day simple moving average of $72.95. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The stock has a market cap of $143.38 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the business posted $0.68 earnings per share. The business's revenue for the quarter was up 19.5% on a year-over-year basis. On average, research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.27 dividend. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, February 14th. Charles Schwab's dividend payout ratio (DPR) is currently 36.12%.

Analysts Set New Price Targets

SCHW has been the subject of a number of recent research reports. Redburn Partners decreased their price objective on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a report on Friday, January 17th. Barclays raised their target price on Charles Schwab from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Wells Fargo & Company upgraded Charles Schwab from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. raised their target price on Charles Schwab from $87.00 to $93.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $86.33.

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.