Goodman Financial Corp Sells 942 Shares of The Charles Schwab Co. (NYSE:SCHW)

Goodman Financial Corp lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,046 shares of the financial services provider’s stock after selling 942 shares during the period. Charles Schwab accounts for approximately 3.3% of Goodman Financial Corp’s investment portfolio, making the stock its 7th biggest position. Goodman Financial Corp’s holdings in Charles Schwab were worth $15,397,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Merit Financial Group LLC boosted its position in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 5,937 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after buying an additional 21,377 shares during the period. Oregon Pacific Wealth Management LLC acquired a new stake in shares of Charles Schwab during the 4th quarter worth approximately $688,000. Finally, Golden State Equity Partners raised its position in shares of Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after buying an additional 9,108 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and increased their price objective for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Piper Sandler raised their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley upped their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Citigroup upped their price objective on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Charles Schwab currently has a consensus rating of “Hold” and an average price target of $86.33.

Charles Schwab Trading Down 0.1 %

NYSE:SCHW opened at $78.61 on Friday. The stock has a fifty day moving average price of $78.88 and a 200 day moving average price of $74.63. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a market cap of $142.57 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 19.5% compared to the same quarter last year. Sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.37%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Insider Activity

In related news, insider Paul V. Woolway sold 9,887 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares of the company’s stock, valued at $3,613,038.78. This represents a 17.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 501,087 shares of company stock worth $40,952,233. Corporate insiders own 6.60% of the company’s stock.

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.