TIAA Trust National Association Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

TIAA Trust National Association boosted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.0% during the 4th quarter, Holdings Channel reports. The firm owned 22,816 shares of the financial services provider’s stock after acquiring an additional 1,079 shares during the quarter. TIAA Trust National Association’s holdings in Charles Schwab were worth $1,689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Merit Financial Group LLC lifted its holdings in shares of Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares during the period. Benjamin Edwards Inc. raised its position in 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 worth $398,000 after buying an additional 5,937 shares during the last quarter. Synovus Financial Corp lifted its stake in 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 during the period. Oregon Pacific Wealth Management LLC purchased a new stake in shares of Charles Schwab in the 4th quarter valued at $688,000. Finally, Golden State Equity Partners increased its stake in shares of Charles Schwab by 293.9% in the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after acquiring an additional 9,108 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and set a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Citigroup boosted their price target on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Redburn Partners cut their target price 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, January 17th. Finally, Barclays raised their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Charles Schwab has a consensus rating of “Hold” and a consensus target price of $86.33.

Insiders Place Their Bets

In other news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the transaction, the insider now owns 47,931 shares of the company’s stock, 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 501,087 shares of company stock worth $40,952,233 over the last three months. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

NYSE:SCHW opened at $80.12 on Thursday. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two 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. The company has a 50 day moving average price of $79.44 and a 200 day moving average price of $75.14. The stock has a market capitalization of $145.30 billion, a P/E ratio of 26.80, a PEG ratio of 0.99 and a beta of 0.98.

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

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.27 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s 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.