Miracle Mile Advisors LLC Boosts Stake in The Charles Schwab Co. (NYSE:SCHW)

Miracle Mile Advisors LLC lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 56.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,739 shares of the financial services provider's stock after purchasing an additional 15,041 shares during the period. Miracle Mile Advisors LLC's holdings in Charles Schwab were worth $3,089,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SCHW. Benjamin Edwards Inc. grew its holdings in Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider's stock valued at $398,000 after buying an additional 5,937 shares in the last quarter. Synovus Financial Corp raised its stake in Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider's stock worth $4,400,000 after purchasing an additional 21,377 shares in the last quarter. Patten & Patten Inc. TN boosted its holdings in Charles Schwab by 155.9% in the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider's stock valued at $6,751,000 after purchasing an additional 63,463 shares during the period. Equity Investment Corp increased its holdings in shares of Charles Schwab by 9.4% during the third quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider's stock worth $106,299,000 after purchasing an additional 140,643 shares during the period. Finally, Teewinot Capital Advisers L.L.C. raised its position in shares of Charles Schwab by 9.0% in the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider's stock valued at $57,122,000 after buying an additional 64,041 shares in the last quarter. Institutional investors own 84.38% of the company's stock.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 2,500 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the sale, the insider now owns 59,092 shares in the company, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,968 shares of company stock worth $8,842,821. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Trading Down 0.5 %

Shares of Charles Schwab stock traded down $0.36 during trading on Tuesday, reaching $72.30. The company's stock had a trading volume of 6,608,896 shares, compared to its average volume of 8,027,081. The firm's 50-day moving average is $77.62 and its two-hundred day moving average is $70.58. The Charles Schwab Co. has a 52-week low of $59.67 and a 52-week high of $83.35. The company has a market cap of $128.67 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.76 and a beta of 0.99. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business posted $0.77 EPS. The firm's revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab's payout ratio is currently 39.06%.

Analyst Ratings Changes

A number of brokerages have weighed in on SCHW. Truist Financial raised Charles Schwab to a "strong-buy" rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research note on Friday, December 20th. Citigroup decreased their target price on shares of Charles Schwab from $85.00 to $80.00 and set a "neutral" rating for the company in a research report on Friday. Bank of America reduced their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an "underperform" rating on the stock in a research note on Wednesday, October 16th. Finally, StockNews.com raised shares of Charles Schwab from a "sell" rating to a "hold" rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Charles Schwab presently has an average rating of "Moderate Buy" and an average target price of $81.63.

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.