Peterson Wealth Services Purchases 2,018 Shares of The Charles Schwab Co. (NYSE:SCHW)

Peterson Wealth Services lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 41.5% during the 4th quarter, HoldingsChannel reports. The firm owned 6,880 shares of the financial services provider’s stock after acquiring an additional 2,018 shares during the period. Peterson Wealth Services’ holdings in Charles Schwab were worth $477,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Investment Research & Advisory Group Inc. boosted its holdings in Charles Schwab by 1.0% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after acquiring an additional 607 shares in the last quarter. Bamco Inc. NY raised its stake in shares of Charles Schwab by 0.5% in the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock worth $444,826,000 after purchasing an additional 42,588 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Charles Schwab by 43.2% in the third quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider’s stock worth $30,287,000 after purchasing an additional 166,316 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Charles Schwab by 22.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock worth $60,776,000 after purchasing an additional 160,719 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its stake in shares of Charles Schwab by 6.1% in the third quarter. 180 Wealth Advisors LLC now owns 32,214 shares of the financial services provider’s stock worth $1,769,000 after purchasing an additional 1,843 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Up 1.3 %

SCHW stock traded up $0.91 during midday trading on Thursday, reaching $73.41. 1,538,661 shares of the company traded hands, compared to its average volume of 7,663,589. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The business has a 50 day moving average of $68.17 and a 200-day moving average of $62.82. The Charles Schwab Co. has a 52-week low of $45.65 and a 52-week high of $73.88. The firm has a market capitalization of $130.38 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 1.10 and a beta of 1.01.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 earnings per share. As a group, sell-side analysts expect that The Charles Schwab Co. will post 3.41 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.00 annualized dividend and a yield of 1.36%. Charles Schwab’s payout ratio is currently 41.84%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SCHW. Morgan Stanley boosted their price target on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Barclays boosted their price target on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday. The Goldman Sachs Group restated a “neutral” rating and issued a $71.00 price target (up previously from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. upped their price objective on Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.47.

Insiders Place Their Bets

In other Charles Schwab news, insider Nigel J. Murtagh sold 29,991 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the transaction, the insider now directly owns 81,446 shares in the company, valued at approximately $5,522,038.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Charles Schwab news, insider Nigel J. Murtagh sold 29,991 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the sale, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 16,390 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $63.94, for a total value of $1,047,976.60. Following the sale, the chairman now directly owns 61,331,688 shares in the company, valued at approximately $3,921,548,130.72. The disclosure for this sale can be found here. Insiders have sold 216,584 shares of company stock worth $14,200,769 in the last ninety days. 6.60% of the stock is owned by company insiders.

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.