Summit Investment Advisors Inc. Has $1.08 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Summit Investment Advisors Inc. trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,566 shares of the financial services provider’s stock after selling 565 shares during the period. Summit Investment Advisors Inc.’s holdings in Charles Schwab were worth $1,078,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SCHW. Merit Financial Group LLC increased its position in shares of Charles Schwab by 230.1% during the 4th 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 last quarter. Synovus Financial Corp increased its holdings in Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC bought a new stake in Charles Schwab during the fourth quarter worth $688,000. Golden State Equity Partners raised its position in Charles Schwab by 293.9% during 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 in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Charles Schwab by 7.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider’s stock valued at $47,674,000 after acquiring an additional 43,308 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the sale, the insider now directly owns 47,931 shares of the company’s stock, valued at $3,613,038.78. This represents a 17.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 513,081 shares of company stock valued at $41,903,066 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $76.52 on Friday. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The firm has a market capitalization of $138.77 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 0.99 and a beta of 0.91. 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 firm’s 50 day simple moving average is $77.30 and its 200 day simple moving average is $76.40.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the prior year, the company earned $0.74 EPS. As a group, research analysts expect 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. Shareholders of record on Friday, February 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.41%. 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SCHW shares. Redburn Partners dropped their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Keefe, Bruyette & Woods dropped their price objective on Charles Schwab from $93.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company reduced their target price on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Citigroup upgraded Charles Schwab from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Finally, Morgan Stanley raised Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price target for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.44.

About Charles Schwab

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.