Clearstead Trust LLC Buys 4,594 Shares of The Charles Schwab Co. (NYSE:SCHW)

Clearstead Trust LLC grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 496.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,519 shares of the financial services provider’s stock after purchasing an additional 4,594 shares during the period. Clearstead Trust LLC’s holdings in Charles Schwab were worth $380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in Charles Schwab by 26.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after acquiring an additional 6,195,934 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Charles Schwab by 186.2% in the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after purchasing an additional 4,624,302 shares during the period. Van ECK Associates Corp raised its position in Charles Schwab by 134.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider’s stock worth $290,986,000 after purchasing an additional 3,038,517 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Charles Schwab by 31.1% in the 3rd quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock valued at $397,877,000 after buying an additional 1,717,137 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Charles Schwab by 3,123.9% in the third quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider’s stock valued at $74,686,000 after buying an additional 1,318,203 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

NYSE:SCHW traded up $0.71 during trading hours on Friday, hitting $76.04. 5,414,735 shares of the company’s stock traded hands, compared to its average volume of 7,577,556. The firm has a market cap of $135.05 billion, a P/E ratio of 31.82, a P/E/G ratio of 1.11 and a beta of 0.98. 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 business’s fifty day simple moving average is $70.75 and its two-hundred day simple moving average is $64.80. The Charles Schwab Co. has a 52 week low of $45.65 and a 52 week high of $76.47.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Activity at Charles Schwab

In related news, CFO Peter B. Crawford sold 5,481 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $75.51, for a total transaction of $413,870.31. Following the transaction, the chief financial officer now directly owns 60,567 shares of the company’s stock, valued at approximately $4,573,414.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Peter B. Crawford sold 5,481 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $75.51, for a total transaction of $413,870.31. Following the transaction, the chief financial officer now directly owns 60,567 shares of the company’s stock, valued at approximately $4,573,414.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 59,905 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $74.96, for a total value of $4,490,478.80. Following the transaction, the chairman now directly owns 61,098,607 shares in the company, valued at $4,579,951,580.72. The disclosure for this sale can be found here. Insiders have sold a total of 514,459 shares of company stock valued at $36,371,155 over the last 90 days. 6.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research analyst reports. TD Cowen increased their price target on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. Barclays raised their target price on Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Morgan Stanley raised their target price on Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, JMP Securities restated a “market outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.