Choreo LLC Increases Stake in The Charles Schwab Co.

Choreo LLC has increased its investment in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.2% during the fourth quarter, as reported in its latest 13F filing with the SEC. The investment firm now owns 123,458 shares of the financial services provider after acquiring an additional 6,047 shares. Valued at approximately $9,128,000, Choreo LLC's holdings in Charles Schwab reflect the firm's positive outlook on the company's performance.

Several other institutional investors are also active in Charles Schwab's stock. For instance, Confluence Wealth Services Inc. added a new stake in the company worth about $236,000 during the fourth quarter. Additionally, Mirae Asset Global Investments Co. Ltd. raised its position by 3.5%, resulting in ownership of 230,500 shares valued at around $16,179,000 after acquiring a further 7,746 shares. Jericho Financial LLP also purchased a new stake in the company, estimated at about $781,000. Notably, Y.D. More Investments Ltd. significantly increased its holdings by 122.3%, now owning 1,845 shares worth $137,000 after buying an extra 1,015 shares. Finally, Weaver Capital Management LLC also boosted its stake by 37.7%, reaching a total of 8,903 shares valued at $659,000. Overall, around 84.38% of Charles Schwab's stock is owned by hedge funds and other institutional investors.

Price Targets from Analysts

In recent analyst reports, several adjustments have been made to the price targets for SCHW shares. Jefferies Financial Group raised its target from $84.00 to $94.00, giving the stock a "buy" rating. Meanwhile, Raymond James reduced its price target from $76.00 to $73.00. Citigroup adjusted its forecast, increasing the target from $80.00 to $85.00 with a "neutral" rating. In contrast, Redburn Partners lowered its price objective from $70.00 to $68.00, labeling the stock as a "sell". Additionally, The Goldman Sachs Group raised its price target from $67.00 to $74.00, also providing a "neutral" rating. The consensus among analysts is two sell ratings, seven hold ratings, and nine buy ratings, indicating a general consensus rating of "Hold" with an average target price of $84.11.

Recent Performance of Charles Schwab

The stock price of Charles Schwab opened at $81.90 recently. The company has a market capitalization of $145.75 billion, with a PE ratio of 27.39 and a beta of 0.99. Financial ratios indicate a quick ratio of 0.47 and a current ratio of 0.47. The stock has shown a 12-month low of $61.01 and a high of $83.84. Charles Schwab recently reported its earnings on January 21st, with earnings per share (EPS) of $1.01, surpassing analyst expectations of $0.90. The firm reported a net margin of 30.31% with a revenue of $5.33 billion, exceeding predictions by $5.19 billion, marking a 19.5% year-over-year revenue growth.

Dividend Announcement

The company recently declared a quarterly dividend, set to be paid on February 28th. Stockholders recorded as of February 14th will receive a dividend of $0.27, up from the previous dividend of $0.25. This increase represents an annualized dividend of $1.08 and a yield of 1.32%. Currently, Charles Schwab's dividend payout ratio (DPR) stands at 33.44%.

Insider Trading Activity

In related news, insider Jonathan S. Beatty sold 2,500 shares of the company for around $192,550. Following this transaction, Beatty still owns 18,069 shares valued at approximately $1.4 million. Additionally, Director Arun Sarin sold 8,548 shares for about $699,397.36. After the sale, Sarin’s remaining shares in the company are valued at approximately $1.5 million. Over the last quarter, insiders have sold a total of 50,014 shares valued at around $4 million, with company insiders owning 6.60% of the stock.

About The Charles Schwab Corporation

The Charles Schwab Corporation operates as a holding company that provides various financial services including wealth management, securities brokerage, banking, and asset management both in the United States and internationally. Its operations are divided into two main segments: Investor Services and Advisor Services.

Choreo, Investment, Schwab