Michels Family Financial LLC Buys New Shares in The Charles Schwab Co. (NYSE:SCHW)

Michels Family Financial LLC purchased a new position in The Charles Schwab Co. (NYSE:SCHW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,100 shares of the financial services provider's stock, valued at approximately $525,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gladstone Institutional Advisory LLC grew its position in Charles Schwab by 2.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider's stock worth $462,000 after purchasing an additional 124 shares during the last quarter. N.E.W. Advisory Services LLC lifted its stake in shares of Charles Schwab by 1.7% in the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider's stock worth $557,000 after acquiring an additional 125 shares during the period. Klingman & Associates LLC lifted its stake in shares of Charles Schwab by 3.2% in the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider's stock worth $302,000 after acquiring an additional 125 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of Charles Schwab by 2.7% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider's stock worth $353,000 after acquiring an additional 127 shares during the period. Finally, Personal CFO Solutions LLC lifted its stake in shares of Charles Schwab by 1.2% in the 4th quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider's stock worth $832,000 after acquiring an additional 130 shares during the period. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insiders Place Their Bets

In other news, Director Frank C. Herringer sold 3,592 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the sale, the director now directly owns 172,162 shares of the company's stock, valued at $12,784,750.12. This represents a 2.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, the insider now owns 57,818 shares of the company's stock, valued at approximately $4,586,123.76. This represents a 5.52% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 96,088 shares of company stock valued at $8,105,928. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Down 0.3%

NYSE:SCHW traded down $0.27 during mid-day trading on Thursday, reaching $87.78. The stock had a trading volume of 3,514,799 shares, compared to its average volume of 9,348,338. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $89.85. The stock has a market cap of $159.49 billion, a P/E ratio of 29.35, a PEG ratio of 0.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The business's 50 day moving average is $80.53 and its 200 day moving average is $79.24.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, sell-side analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.23%. Charles Schwab's dividend payout ratio is currently 32.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SCHW shares. TD Cowen upgraded shares of Charles Schwab from a "hold" rating to a "buy" rating and raised their target price for the company from $88.00 to $103.00 in a report on Tuesday, February 18th. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a report on Friday, April 25th. TD Securities lifted their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Piper Sandler lifted their price target on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Finally, UBS Group lifted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.63.

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.