Institute for Wealth Management LLC. Purchases 1,562 Shares of The Charles Schwab Co. (NYSE:SCHW)

Institute for Wealth Management LLC. lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 28.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,108 shares of the financial services provider’s stock after buying an additional 1,562 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Charles Schwab were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Investment Research & Advisory Group Inc. increased its stake in shares of Charles Schwab by 1.0% during 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 purchasing an additional 607 shares during the period. Bamco Inc. NY increased its stake in Charles Schwab by 0.5% during the 3rd quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock worth $444,826,000 after acquiring an additional 42,588 shares during the period. Nisa Investment Advisors LLC increased its stake in Charles Schwab by 43.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider’s stock worth $30,287,000 after acquiring an additional 166,316 shares during the period. Wright Investors Service Inc. increased its stake in Charles Schwab by 9.3% during the 4th quarter. Wright Investors Service Inc. now owns 47,164 shares of the financial services provider’s stock worth $3,245,000 after acquiring an additional 4,001 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Charles Schwab by 22.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock worth $60,776,000 after acquiring an additional 160,719 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $73.42 on Friday. The Charles Schwab Co. has a twelve month low of $45.65 and a twelve month high of $73.88. The stock’s 50 day moving average price is $68.58 and its 200-day moving average price is $63.02. The company has a market capitalization of $130.40 billion, a PE ratio of 30.72, a PEG ratio of 1.07 and a beta of 1.01. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82.

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

Charles Schwab Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Morgan Stanley raised their price objective 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 lifted their price target on Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday. Piper Sandler lifted their price target on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Finally, Citigroup lifted their price target on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus target price of $74.47.

Insiders Place Their Bets

In other Charles Schwab news, COO Joseph R. Martinetto sold 43,000 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $70.83, for a total transaction of $3,045,690.00. Following the sale, the chief operating officer now owns 41,414 shares in the company, valued at $2,933,353.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Joseph R. Martinetto sold 43,000 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $70.83, for a total value of $3,045,690.00. Following the transaction, the chief operating officer now owns 41,414 shares of the company’s stock, valued at $2,933,353.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the transaction, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The disclosure for this sale can be found here. Insiders have sold a total of 312,800 shares of company stock worth $21,081,569 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

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.