Summit Financial LLC Purchases 3,828 Shares of The Charles Schwab Co. (NYSE:SCHW)

Summit Financial LLC grew its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,435 shares of the financial services provider's stock after purchasing an additional 3,828 shares during the period. Summit Financial LLC's holdings in Charles Schwab were worth $2,623,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SCHW. Murphy & Mullick Capital Management Corp bought a new position in Charles Schwab in the fourth quarter valued at $38,000. Atala Financial Inc acquired a new position in shares of Charles Schwab during the 4th quarter worth about $41,000. Knuff & Co LLC grew its holdings in shares of Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 563 shares in the last quarter. Financial Life Planners acquired a new stake in shares of Charles Schwab in the fourth quarter valued at about $46,000. Finally, Whipplewood Advisors LLC bought a new stake in Charles Schwab during the fourth quarter worth about $46,000. 84.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SCHW. Piper Sandler raised their price target on Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. UBS Group raised their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Truist Financial upped their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an "outperform" rating in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus price target of $87.28.

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Charles Schwab Stock Performance

Shares of NYSE SCHW traded down $3.69 during trading hours on Thursday, reaching $74.90. 13,516,765 shares of the stock were exchanged, compared to its average volume of 8,922,842. The stock's fifty day simple moving average is $79.48 and its 200 day simple moving average is $75.69. The firm has a market capitalization of $135.83 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 0.99 and a beta of 0.91. 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.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share 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 firm had revenue of $5.33 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter last year, the business earned $0.68 EPS. The company's quarterly revenue was up 19.5% compared to the same quarter last year. Sell-side analysts predict 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. Shareholders of record on Friday, February 14th were issued a $0.27 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.44%. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's payout ratio is currently 36.12%.

Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 9,887 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the sale, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. This trade represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 513,081 shares of company stock worth $41,903,066 in the last quarter. Corporate insiders own 6.60% of the company's stock.

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.