Beck Mack & Oliver LLC Acquires 29,993 Shares of The Charles Schwab Co. (NYSE:SCHW)

Beck Mack & Oliver LLC lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.4% during the fourth quarter, Holdings Channel reports. The fund owned 2,123,211 shares of the financial services provider’s stock after acquiring an additional 29,993 shares during the period. Charles Schwab comprises 2.9% of Beck Mack & Oliver LLC’s investment portfolio, making the stock its 10th largest position. Beck Mack & Oliver LLC’s holdings in Charles Schwab were worth $157,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Charles Schwab during the 4th quarter worth $38,000. Atala Financial Inc purchased a new stake in Charles Schwab during the 4th quarter worth about $41,000. Knuff & Co LLC boosted its position in shares of Charles Schwab by 1,309.3% during the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 563 shares in the last quarter. Financial Life Planners purchased a new position in shares of Charles Schwab in the 4th quarter valued at about $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Charles Schwab during the 4th quarter worth about $46,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed an “outperform” rating and issued a $92.00 price target on shares of Charles Schwab in a report on Wednesday. JPMorgan analyst Kenneth Worthington reiterated an Overweight rating and $92 target. Ahead of earnings, he highlighted Schwab’s earnings model and positive impact of rising cash allocations. Keefe, Bruyette & Woods dropped their target price on shares of Charles Schwab from $93.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th. Truist Financial reduced their price target on shares of Charles Schwab from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Morgan Stanley raised Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price objective on the stock in a report on Tuesday, April 8th. Finally, 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 report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.44.

Charles Schwab Stock Up 1.1 %

SCHW stock opened at $76.52 on Friday. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week 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 cap of $138.77 billion, a P/E ratio of 25.59, a P/E/G ratio of 0.99 and a beta of 0.91. The company’s 50-day moving average price is $77.16 and its 200 day moving average price is $76.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, 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 company also recently declared 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 1.41%. The ex-dividend date was Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is 36.12%.

Insider Buying and Selling

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction on 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 sale, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock worth $41,903,066 in the last three months. Corporate insiders own 6.30% of the company’s stock.

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.