Riggs Asset Managment Co. Inc. Has $2.79 Million Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Riggs Asset Managment Co. Inc. lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 52.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,525 shares of the financial services provider's stock after selling 44,320 shares during the quarter. Riggs Asset Managment Co. Inc.'s holdings in Charles Schwab were worth $2,788,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SCHW. Providence Capital Advisors LLC acquired a new stake in Charles Schwab in the 3rd quarter worth about $28,000. Sugarloaf Wealth Management LLC increased its position in Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider's stock worth $30,000 after purchasing an additional 165 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Charles Schwab in the 4th quarter valued at $31,000. Worth Asset Management LLC purchased a new stake in shares of Charles Schwab during the 1st quarter valued at $32,000. Finally, BluePath Capital Management LLC purchased a new position in shares of Charles Schwab in the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Transactions at Charles Schwab

In other news, CFO Peter B. Crawford sold 5,482 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $73.46, for a total value of $402,707.72. Following the completion of the sale, the chief financial officer now owns 60,567 shares in the company, valued at $4,449,251.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Charles Schwab news, CFO Peter B. Crawford sold 5,482 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $73.46, for a total value of $402,707.72. Following the completion of the sale, the chief financial officer now owns 60,567 shares in the company, valued at approximately $4,449,251.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Peter B. Crawford sold 4,000 shares of the business's stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $64.49, for a total transaction of $257,960.00. Following the transaction, the chief financial officer now owns 37,611 shares in the company, valued at $2,425,533.39. The disclosure for this sale can be found here. Insiders have sold a total of 312,800 shares of company stock valued at $21,081,569 over the last ninety days. Corporate insiders own 6.60% of the company's stock.

Charles Schwab Price Performance

SCHW traded up $0.49 during trading on Friday, reaching $73.42. The stock had a trading volume of 8,489,366 shares, compared to its average volume of 6,908,559. The stock has a 50 day moving average of $68.58 and a two-hundred day moving average of $63.11. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $130.40 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $73.88.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.04. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the prior year, the company earned $1.07 EPS. Charles Schwab's revenue was down 18.9% on a year-over-year basis. As a group, equities analysts anticipate that The Charles Schwab Co. will post 3.42 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business 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 presently 41.84%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays increased their price target on Charles Schwab from $74.00 to $75.00 and gave the company an "equal weight" rating in a report on Tuesday. Citigroup increased their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $75.00 to $76.00 and gave the stock a "market perform" rating in a research report on Tuesday. Piper Sandler lifted their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $75.00 to $77.00 and gave the company a "buy" rating in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Charles Schwab currently has a consensus rating of "Hold" and an average price target of $74.47.

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.