Perigon Wealth Management LLC Raises Position in The Charles Schwab Co. (NYSE:SCHW)

Perigon Wealth Management LLC boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 73.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,989 shares of the financial services provider’s stock after buying an additional 68,418 shares during the quarter. Perigon Wealth Management LLC’s holdings in Charles Schwab were worth $11,076,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SCHW. Vontobel Holding Ltd. lifted its stake in Charles Schwab by 7.5% in the 1st quarter. Vontobel Holding Ltd. now owns 20,822 shares of the financial services provider’s stock valued at $1,847,000 after buying an additional 1,452 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Charles Schwab by 4.3% in the 1st quarter. Moors & Cabot Inc. now owns 6,263 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 259 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Charles Schwab by 25.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,064 shares of the financial services provider’s stock worth $1,101,000 after purchasing an additional 2,648 shares in the last quarter. Brighton Jones LLC lifted its stake in Charles Schwab by 7.5% in the 1st quarter. Brighton Jones LLC now owns 3,807 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 267 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Charles Schwab by 16.6% in the 1st quarter. Covestor Ltd now owns 1,239 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 176 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 0.7 %

Shares of NYSE:SCHW traded down $0.49 during trading on Thursday, hitting $70.61. The company’s stock had a trading volume of 5,889,974 shares, compared to its average volume of 7,551,399. The company has a market capitalization of $125.41 billion, a PE ratio of 27.80, a P/E/G ratio of 1.09 and a beta of 1.01. The business has a 50 day moving average price of $67.26 and a two-hundred day moving average price of $62.23. The Charles Schwab Co. has a fifty-two week low of $45.65 and a fifty-two week high of $72.97. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Charles Schwab had a net margin of 26.90% and a return on equity of 21.33%. The company’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.07 EPS. As a group, research analysts expect that The Charles Schwab Co. will post 3.36 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. Charles Schwab’s dividend payout ratio (DPR) is presently 39.37%.

Analysts Set New Price Targets

A number of research analysts have weighed in on SCHW shares. Raymond James decreased their target price on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, January 18th. Barclays raised their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Morgan Stanley raised their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods downgraded shares of Charles Schwab from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $75.00 to $70.00 in a report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Charles Schwab has an average rating of “Hold” and an average target price of $72.35.

Insider Activity at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total value of $587,610.00. Following the completion of the sale, the director now directly owns 585,057 shares of the company’s stock, valued at $38,198,371.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Charles Schwab news, insider Nigel J. Murtagh sold 29,991 shares of Charles Schwab stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total value of $2,033,389.80. Following the transaction, the insider now directly owns 81,446 shares in the company, valued at $5,522,038.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total transaction of $587,610.00. Following the completion of the transaction, the director now owns 585,057 shares in the company, valued at $38,198,371.53. The disclosure for this sale can be found here. Insiders sold a total of 216,584 shares of company stock valued at $14,200,769 over the last ninety days. Insiders own 6.60% of the company’s stock.

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.