Manchester Capital Management LLC Acquires 1,027 Shares of The Charles Schwab Co. (NYSE:SCHW)

Manchester Capital Management LLC grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 59.5% in the fourth quarter, Holdings Channel reports. The firm owned 2,753 shares of the financial services provider’s stock after buying an additional 1,027 shares during the quarter. Manchester Capital Management LLC’s holdings in Charles Schwab were worth $204,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Valeo Financial Advisors LLC increased its holdings in Charles Schwab by 0.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 38,565 shares of the financial services provider’s stock worth $2,854,000 after buying an additional 303 shares in the last quarter. AustralianSuper Pty Ltd boosted its holdings in shares of Charles Schwab by 11.6% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,905,316 shares of the financial services provider’s stock valued at $141,012,000 after acquiring an additional 197,545 shares during the last quarter. Kanawha Capital Management LLC bought a new stake in shares of Charles Schwab in the fourth quarter worth approximately $934,000. Asset Planning Inc purchased a new position in shares of Charles Schwab during the fourth quarter valued at approximately $99,000. Finally, Banque Pictet & Cie SA lifted its position in Charles Schwab by 0.3% during the fourth quarter. Banque Pictet & Cie SA now owns 153,030 shares of the financial services provider’s stock valued at $11,326,000 after purchasing an additional 510 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction 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 sale, the chairman now owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction 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 transaction, the director now owns 18,617 shares of the company’s stock, valued at $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 three months, insiders have sold 512,143 shares of company stock worth $41,917,493. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 1.5 %

Shares of SCHW opened at $80.32 on Friday. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. 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 company has a market capitalization of $142.94 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The business’s 50 day moving average is $78.03 and its 200 day moving average is $72.35.

Charles Schwab (NYSE:SCHW) last released 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. The firm had revenue of $5.33 billion for 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%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Research analysts expect that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.34%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. Charles Schwab’s payout ratio is 33.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SCHW. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Morgan Stanley increased their target price on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Piper Sandler boosted their price target on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. UBS Group increased their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $84.56.

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.