Millstone Evans Group LLC Buys New Stake in The Charles Schwab Co. (NYSE:SCHW)

Millstone Evans Group LLC bought a new stake in The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,233 shares of the financial services provider’s stock, valued at approximately $91,000.

Several other large investors have also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in Charles Schwab during the fourth quarter worth $254,000. Lee Danner & Bass Inc. acquired a new position in Charles Schwab during the fourth quarter worth $101,000. Whittier Trust Co. of Nevada Inc. raised its position in Charles Schwab by 23.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 25,542 shares of the financial services provider’s stock worth $1,890,000 after acquiring an additional 4,812 shares during the period. Holderness Investments Co. acquired a new position in Charles Schwab during the fourth quarter worth $204,000. Finally, iA Global Asset Management Inc. raised its position in Charles Schwab by 77.2% during the fourth quarter. iA Global Asset Management Inc. now owns 13,812 shares of the financial services provider’s stock worth $1,022,000 after acquiring an additional 6,017 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SCHW shares. Citigroup upped their price objective on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Piper Sandler upped their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. UBS Group upped their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Barclays upped their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group upped their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $86.33.

Insider Transactions at Charles Schwab

In related news, insider Paul V. Woolway sold 3,380 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the sale, the insider now owns 57,818 shares of the company’s stock, valued at $4,586,123.76. This trade represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 501,087 shares of company stock valued at $40,952,233. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Down 0.1 %

Shares of SCHW opened at $78.47 on Friday. The stock has a market capitalization of $142.30 billion, a PE ratio of 26.24, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year 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. The company’s 50-day simple moving average is $78.99 and its 200-day simple moving average is $74.79.

Charles Schwab (NYSE:SCHW) last issued 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. The business had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. Analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is currently 36.12%.

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.