Maridea Wealth Management LLC Takes $302,000 Position in The Charles Schwab Co. (NYSE:SCHW)

Maridea Wealth Management LLC purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, Holdings Channel reports. The firm purchased 4,074 shares of the financial services provider’s stock, valued at approximately $302,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock worth $9,516,075,000 after purchasing an additional 1,187,384 shares during the period. State Street Corp grew its stake in Charles Schwab by 0.7% during the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after buying an additional 414,949 shares in the last quarter. Geode Capital Management LLC increased its holdings in Charles Schwab by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after buying an additional 445,304 shares during the period. Franklin Resources Inc. raised its position in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Charles Schwab by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after acquiring an additional 265,708 shares during the period. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays lifted their price objective 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. JMP Securities reissued a “market outperform” rating and set a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Redburn Partners reduced their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Citigroup lifted their target price on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Performance

NYSE SCHW opened at $77.79 on Friday. The company has a market cap of $141.08 billion, a P/E ratio of 26.02, a PEG ratio of 0.99 and a beta of 0.98. The company has a fifty day simple moving average of $79.55 and a 200 day simple moving average of $75.36. 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 Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its 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. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Sell-side analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Friday, February 14th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insider Activity at Charles Schwab

In related news, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the transaction, the director now directly owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 9,887 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares of the company’s stock, valued at $3,613,038.78. The trade was 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 509,701 shares of company stock valued at $41,641,353 over the last 90 days. Insiders own 6.60% of the company’s stock.

Charles Schwab 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.