Broadway Wealth Solutions Inc. Acquires Shares of 4,077 The Charles Schwab Co. (NYSE:SCHW)

Broadway Wealth Solutions Inc. bought a new stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,077 shares of the financial services provider's stock, valued at approximately $302,000.

Other hedge funds have also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC increased its position in shares of Charles Schwab by 2.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider's stock worth $462,000 after acquiring an additional 124 shares during the period. N.E.W. Advisory Services LLC grew its stake in Charles Schwab by 1.7% in the fourth quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider's stock worth $557,000 after purchasing an additional 125 shares in the last quarter. Klingman & Associates LLC increased its holdings in Charles Schwab by 3.2% during the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider's stock worth $302,000 after purchasing an additional 125 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its position in Charles Schwab by 2.7% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider's stock valued at $353,000 after purchasing an additional 127 shares in the last quarter. Finally, Personal CFO Solutions LLC lifted its holdings in shares of Charles Schwab by 1.2% in the 4th quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider's stock worth $832,000 after buying an additional 130 shares during the period. 84.38% of the stock is owned by institutional investors.

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Charles Schwab Stock Performance

SCHW stock traded up $0.57 during midday trading on Monday, reaching $78.38. The stock had a trading volume of 4,571,039 shares, compared to its average volume of 8,838,144. The firm has a fifty day simple moving average of $79.55 and a two-hundred day simple moving average of $75.45. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. 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 market cap of $142.14 billion, a PE ratio of 26.17, a P/E/G ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 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 firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company's revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current 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 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 1.38%. The ex-dividend date was Friday, February 14th. Charles Schwab's dividend payout ratio is 36.12%.

Insider Transactions at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business's stock in a transaction 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 completion of the transaction, the chairman now owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 509,701 shares of company stock worth $41,641,353 over the last 90 days. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SCHW. JMP Securities restated a "market outperform" rating and set a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. UBS Group boosted their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the company a "buy" rating in a report on Monday, January 27th. Citigroup increased their price objective on shares of Charles Schwab from $80.00 to $85.00 and gave the company a "neutral" rating in a research note 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. Finally, Truist Financial upped their target price on Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Charles Schwab has a consensus 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.