Spire Wealth Management Acquires 2,016 Shares of The Charles Schwab Co. (NYSE:SCHW)

Spire Wealth Management grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 11.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,601 shares of the financial services provider’s stock after acquiring an additional 2,016 shares during the period. Spire Wealth Management’s holdings in Charles Schwab were worth $1,250,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SCHW. Verdence Capital Advisors LLC bought a new stake in shares of Charles Schwab in the 3rd quarter valued at about $235,000. Brighton Jones LLC increased its position in Charles Schwab by 12.4% during the 3rd quarter. Brighton Jones LLC now owns 4,930 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 542 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Charles Schwab by 0.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345,888 shares of the financial services provider’s stock worth $18,989,000 after purchasing an additional 2,326 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Charles Schwab by 30.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 32,418 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 7,553 shares during the period. Finally, Advisor Partners II LLC boosted its stake in shares of Charles Schwab by 12.6% in the 3rd quarter. Advisor Partners II LLC now owns 54,453 shares of the financial services provider’s stock valued at $2,989,000 after purchasing an additional 6,105 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SCHW. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. TD Cowen lifted their target price on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Piper Sandler increased their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.47.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $75.25 on Wednesday. The Charles Schwab Co. has a 12 month low of $46.55 and a 12 month high of $77.05. The firm has a market capitalization of $133.65 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98. The firm has a fifty day simple moving average of $71.20 and a two-hundred day simple moving average of $65.15. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. Analysts forecast that The Charles Schwab Co. will post 3.42 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. Charles Schwab’s payout ratio is 41.84%.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated 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 sale, the director now owns 585,057 shares in the company, valued at $38,198,371.53. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Charles Schwab news, CFO Peter B. Crawford sold 8,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.76, for a total value of $518,080.00. Following the completion of the transaction, the chief financial officer now owns 29,611 shares in the company, valued at approximately $1,917,608.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total value of $587,610.00. Following the sale, the director now owns 585,057 shares in the company, valued at $38,198,371.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 514,459 shares of company stock worth $36,371,155. 6.60% of the stock is owned by corporate 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.