TAGStone Capital Inc. Raises Stake in The Charles Schwab Co. (NYSE:SCHW)

TAGStone Capital Inc. boosted its position in The Charles Schwab Co. (NYSE:SCHW) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,801 shares of the financial services provider’s stock after acquiring an additional 146 shares during the period. TAGStone Capital Inc.’s holdings in Charles Schwab were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SCHW. Primecap Management Co. CA increased its position in shares of Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock valued at $314,716,000 after buying an additional 3,216,000 shares during the period. Franklin Resources Inc. increased its position in shares of Charles Schwab by 15.0% during the third 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 during the period. Raymond James Financial Inc. bought a new stake in shares of Charles Schwab during the fourth quarter valued at about $189,791,000. Veritas Asset Management LLP bought a new stake in shares of Charles Schwab during the fourth quarter valued at about $185,649,000. Finally, KBC Group NV increased its position in shares of Charles Schwab by 186.7% during the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock valued at $158,236,000 after buying an additional 1,392,255 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the transaction, the chairman now directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 9,887 shares of the 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 transaction, the insider now directly owns 47,931 shares of the company’s stock, valued at approximately $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 sold a total of 501,087 shares of company stock valued at $40,952,233 over the last three months. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SCHW. Morgan Stanley upped their price target on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Truist Financial upped their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Finally, JMP Securities restated a “market outperform” rating and issued a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $78.47 on Monday. The company has a market cap of $142.30 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The company has a 50-day moving average price of $78.99 and a 200-day moving average price of $74.87. 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 issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm 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%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

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

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.