Strategic Financial Concepts LLC Takes $2.69 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Strategic Financial Concepts LLC acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 36,365 shares of the financial services provider's stock, valued at approximately $2,691,000.

A number of other hedge funds also recently made changes to their positions in SCHW. State Street Corp grew its stake in Charles Schwab by 0.7% during the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider's stock worth $4,023,175,000 after purchasing an additional 414,949 shares during the period. Geode Capital Management LLC grew its stake in Charles Schwab by 1.5% during the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider's stock worth $1,945,614,000 after purchasing an additional 445,304 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Charles Schwab by 6.3% during 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 during the period. Franklin Resources Inc. grew its stake 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 purchasing an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC grew its stake in Charles Schwab by 2.5% during the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider's stock worth $1,308,485,000 after purchasing an additional 493,264 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company's stock, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business'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 in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 490,120 shares of company stock valued at $40,127,472. Insiders own 6.60% of the company's stock.

Charles Schwab Stock Down 1.6 %

Charles Schwab stock traded down $1.33 during trading on Friday, hitting $80.50. 9,855,515 shares of the company were exchanged, compared to its average volume of 12,402,950. The business's 50 day moving average is $77.98 and its 200 day moving average is $72.95. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a market capitalization of $143.38 billion, a P/E ratio of 26.92, a PEG ratio of 0.99 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. Charles Schwab's revenue was up 19.5% compared to the same quarter last year. Analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.34%. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's payout ratio is currently 36.12%.

Analyst Ratings Changes

SCHW has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Charles Schwab from $87.00 to $93.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Redburn Partners decreased their target price on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a research note on Friday, January 17th. Wells Fargo & Company raised Charles Schwab from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. 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 note on Tuesday, February 11th. Finally, Citigroup raised their price objective on Charles Schwab from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.