Eagle Ridge Investment Management Has $24.47 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

Eagle Ridge Investment Management trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 355,624 shares of the financial services provider’s stock after selling 3,082 shares during the quarter. Charles Schwab accounts for 2.4% of Eagle Ridge Investment Management’s portfolio, making the stock its 12th largest position. Eagle Ridge Investment Management’s holdings in Charles Schwab were worth $24,467,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in shares of Charles Schwab by 26.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after buying an additional 6,195,934 shares in the last quarter. Invesco Ltd. increased its stake in shares of Charles Schwab by 3.3% in the third quarter. Invesco Ltd. now owns 15,560,924 shares of the financial services provider’s stock valued at $854,295,000 after buying an additional 502,304 shares in the last quarter. Northern Trust Corp increased its stake in shares of Charles Schwab by 2.3% in the third quarter. Northern Trust Corp now owns 15,550,474 shares of the financial services provider’s stock valued at $853,721,000 after buying an additional 356,112 shares in the last quarter. Bamco Inc. NY increased its stake in shares of Charles Schwab by 0.5% in the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock valued at $444,826,000 after buying an additional 42,588 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Charles Schwab by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,317,044 shares of the financial services provider’s stock valued at $401,706,000 after buying an additional 101,920 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SCHW. Piper Sandler raised their price target on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a report on Tuesday, April 16th. Morgan Stanley raised their target price on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods raised their target price on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $74.47.

Charles Schwab Stock Down 0.2 %

Shares of NYSE:SCHW traded down $0.17 during trading on Monday, hitting $74.82. 3,013,578 shares of the company’s stock traded hands, compared to its average volume of 7,672,756. The Charles Schwab Co. has a 52 week low of $45.65 and a 52 week high of $75.55. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The company has a market cap of $132.88 billion, a price-to-earnings ratio of 31.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The company has a 50-day moving average price of $69.68 and a 200-day moving average price of $64.01.

Charles Schwab Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Activity

In other Charles Schwab news, insider Nigel J. Murtagh sold 29,991 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the sale, the insider now owns 81,446 shares in the company, valued at approximately $5,522,038.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jonathan M. Craig sold 4,977 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total value of $348,439.77. Following the completion of the sale, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,702,034.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nigel J. Murtagh sold 29,991 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The disclosure for this sale can be found here. Insiders have sold 394,648 shares of company stock worth $27,400,905 in the last 90 days. Corporate 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.