Merit Financial Group LLC raised its stake in The Charles Schwab Co. (NYSE:SCHW – Free Report) by 230.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,546 shares of the financial services provider’s stock after buying an additional 23,383 shares during the period. Merit Financial Group LLC’s holdings in Charles Schwab were worth $2,483,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in SCHW. Capital Performance Advisors LLP bought a new stake in Charles Schwab in the third quarter valued at approximately $25,000. Washington Trust Advisors Inc. lifted its position in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Charles Schwab in the 3rd quarter valued at $31,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Charles Schwab during the third quarter worth $32,000. Finally, Planning Capital Management Corp bought a new position in Charles Schwab during the third quarter worth $33,000. Institutional investors and hedge funds own 84.38% of the company’s stock.
Insiders Place Their Bets
In other news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at $1,481,838.69. The trade was a 11.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction dated 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 transaction, the insider now owns 59,092 shares of the company’s stock, 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. In the last ninety days, insiders sold 26,823 shares of company stock valued at $2,171,194. Corporate insiders own 6.60% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have commented on SCHW. Jefferies Financial Group upped their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. 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. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. The Goldman Sachs Group raised their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Redburn Partners lowered their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $81.41.
Check Out Our Latest Analysis on Charles Schwab
Charles Schwab Price Performance
Shares of NYSE:SCHW opened at $76.53 on Monday. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.35. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market cap of $136.20 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 1.19 and a beta of 0.99. The stock’s fifty day simple moving average is $77.68 and its two-hundred day simple moving average is $70.63.
Charles Schwab Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 39.06%.
Charles Schwab Company Profile
(Free Report)
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.
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