Spire Wealth Management Increases Stock Holdings in The Charles Schwab Corporation $SCHW

Spire Wealth Management boosted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 15.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 67,229 shares of the financial services provider’s stock after buying an additional 8,883 shares during the period. Spire Wealth Management’s holdings in Charles Schwab were worth $6,418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC purchased a new stake in shares of Charles Schwab in the second quarter valued at $25,000. RMG Wealth Management LLC purchased a new stake in Charles Schwab in the 2nd quarter worth about $27,000. West Branch Capital LLC purchased a new stake in Charles Schwab in the 3rd quarter worth about $27,000. CBIZ Investment Advisory Services LLC lifted its stake in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 191 shares during the last quarter. Finally, Hoese & Co LLP boosted its position in shares of Charles Schwab by 131.6% during the second quarter. Hoese & Co LLP now owns 352 shares of the financial services provider’s stock valued at $32,000 after buying an additional 200 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SCHW shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group reissued a “buy” rating and set a $114.00 target price on shares of Charles Schwab in a research note on Friday, October 17th. Bank of America upped their price target on shares of Charles Schwab from $88.00 to $91.00 and gave the stock an “underperform” rating in a report on Wednesday, December 10th. Finally, Zacks Research lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.80.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $101.90 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average price is $96.08 and its 200-day moving average price is $94.93. The firm has a market cap of $181.06 billion, a P/E ratio of 23.86, a P/E/G ratio of 0.72 and a beta of 0.94. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $104.76.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,168,454. The trade was a 20.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.30% of the stock is currently owned by insiders.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.