Greenwich Wealth Management LLC Has $13.03 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

Greenwich Wealth Management LLC grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 104.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,034 shares of the financial services provider’s stock after purchasing an additional 89,913 shares during the period. Charles Schwab comprises about 0.9% of Greenwich Wealth Management LLC’s investment portfolio, making the stock its 16th biggest position. Greenwich Wealth Management LLC’s holdings in Charles Schwab were worth $13,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC boosted its position in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Charles Schwab by 2,840.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 5,937 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC acquired a new stake in shares of Charles Schwab during the 4th quarter valued at about $688,000. Finally, Golden State Equity Partners boosted its position in shares of Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 9,108 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Citigroup boosted their price target on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their price target 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. 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 research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.33.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’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 disclosure for this sale can be found here. Insiders sold a total of 501,087 shares of company stock valued at $40,952,233 over the last ninety days. Insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 5.1 %

SCHW opened at $77.28 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $140.15 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The firm has a 50 day simple moving average of $78.47 and a 200 day simple moving average of $74.32. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s payout ratio is 36.12%.

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.