Oliver Luxxe Assets LLC Increases Stake in The Charles Schwab Co.

Oliver Luxxe Assets LLC has significantly increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 61.9% during the fourth quarter. This update comes from the firm's latest disclosure to the Securities & Exchange Commission. Following this acquisition, Oliver Luxxe now holds a total of 60,655 shares of the financial services provider after obtaining an additional 23,187 shares in the period. These holdings in Charles Schwab are valued at approximately $4,489,000.

Recent Shareholder Activity:

In recent months, various other institutional investors and hedge funds have also bought and sold shares of The Charles Schwab Co. For instance, TD Asset Management Inc. raised its stake in Charles Schwab by 3.5% in the second quarter, accumulating 536,906 shares valued at around $39,565,000 after acquiring an extra 18,121 shares.

Victory Capital Management Inc. also reported a 4.0% increase in its holdings during the same quarter, owning 579,518 shares worth approximately $42,705,000 after adding 22,208 shares. Additionally, New York Life Investment Management LLC boosted its position by 0.8%, reaching 204,902 shares valued at $15,099,000.

Private Advisor Group LLC raised its stake by 11.2%, now owning 104,276 shares valued at $7,684,000 after acquiring an additional 10,534 shares. Lastly, Candriam S.C.A. increased its holdings by 9.0%, bringing its ownership to 98,226 shares worth $7,238,000. Altogether, about 84.38% of Charles Schwab's shares are owned by institutional investors.

Insider Transactions

In related news, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab on November 25th, receiving around $188,623 from the sale. Following this transaction, Beatty's remaining shares total 18,069, valued at approximately $1,481,839. Another insider, Nigel J. Murtagh, sold 12,739 shares on November 22nd for around $1,034,025. After this transaction, he holds 59,092 shares valued at $4,796,498. Overall, within a 90-day window, insiders sold 118,968 shares worth about $8,842,821. Corporate insiders retain about 6.60% of the company’s stock.

Current Stock Performance

The stock of Charles Schwab recently traded at $74.44, down by $0.01 during midday trading, with a trading volume of 4,866,882 shares, slightly below its average volume of 5,001,241. Over the past year, shares have fluctuated between a low of $59.67 and a high of $83.35. The company boasts a market capitalization of $132.48 billion, a P/E ratio of 29.08, and a beta of 0.99, with a debt-to-equity ratio of 0.59.

In its latest quarterly earnings report, Charles Schwab posted earnings of $0.77 per share, surpassing analysts' expectations of $0.75. The company's revenue reached $4.85 billion in the quarter, exceeding estimates of $4.78 billion. The firm achieved a net margin of 27.47% and a return on equity of 16.92%, indicating a 5.2% increase in revenue year-over-year.

Dividend Announcement

Recently, Charles Schwab announced a quarterly dividend of $0.25 per share. This dividend was paid on November 22nd to investors recorded on November 8th, leading to an annualized dividend of $1.00, resulting in a yield of 1.34%. The company has a dividend payout ratio of 39.06%.

Analyst Ratings and Future Predictions

Wall Street analysts have been assessing the performance of Charles Schwab and have recently updated their target prices. Cowen raised their target price from $69.00 to $75.00 while maintaining a "hold" rating. Conversely, Citigroup lowered their target estimate from $75.00 to $72.00. A mix of sell and hold ratings persists, with eight analysts recommending to hold, while another eight analysts suggest buying the stock. Current data shows an average target price of $80.50 for Charles Schwab shares.

Company Overview

The Charles Schwab Corporation, along with its subsidiaries, operates as a savings and loan holding company. It provides a variety of services including wealth management, securities brokerage, banking, asset management, custody, and financial advisory services both in the U.S. and globally.

Schwab, Investment, Shares