Blume Capital Management Inc. Has $12.93 Million Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Blume Capital Management Inc. increased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 6.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 187,920 shares of the financial services provider’s stock after purchasing an additional 11,418 shares during the period. Charles Schwab comprises about 3.4% of Blume Capital Management Inc.’s portfolio, making the stock its 4th largest holding. Blume Capital Management Inc.’s holdings in Charles Schwab were worth $12,929,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Verdence Capital Advisors LLC purchased a new position in shares of Charles Schwab during the 3rd quarter valued at about $235,000. BluePath Capital Management LLC purchased a new position in Charles Schwab in the 3rd quarter worth approximately $34,000. Brighton Jones LLC lifted its holdings in Charles Schwab by 12.4% in the 3rd quarter. Brighton Jones LLC now owns 4,930 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 542 shares in the last quarter. Strs Ohio lifted its holdings in Charles Schwab by 26.7% in the 3rd quarter. Strs Ohio now owns 860,896 shares of the financial services provider’s stock worth $47,263,000 after purchasing an additional 181,340 shares in the last quarter. Finally, Waldron Private Wealth LLC raised its holdings in shares of Charles Schwab by 3.8% during the 3rd quarter. Waldron Private Wealth LLC now owns 11,707 shares of the financial services provider’s stock worth $642,000 after acquiring an additional 428 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 13,113 shares of Charles Schwab stock in a transaction on Monday, May 6th. The shares were sold at an average price of $76.38, for a total transaction of $1,001,570.94. Following the sale, the director now owns 1,700,886 shares of the company’s stock, valued at approximately $129,913,672.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 13,113 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $76.38, for a total transaction of $1,001,570.94. Following the transaction, the director now owns 1,700,886 shares of the company’s stock, valued at approximately $129,913,672.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 65,790 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $76.40, for a total transaction of $5,026,356.00. Following the transaction, the chairman now directly owns 60,906,686 shares in the company, valued at approximately $4,653,270,810.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 659,587 shares of company stock valued at $47,399,731. 6.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Barclays upped their price objective on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Citigroup raised their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. TD Cowen raised their price target on shares of Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Piper Sandler increased their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Charles Schwab has an average rating of “Hold” and an average target price of $74.47.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded up $0.05 during midday trading on Thursday, hitting $76.20. The company had a trading volume of 879,448 shares, compared to its average volume of 7,497,358. The stock has a market cap of $135.34 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 1.11 and a beta of 0.98. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The company has a fifty day simple moving average of $71.20 and a 200 day simple moving average of $65.15. The Charles Schwab Co. has a 12-month low of $46.55 and a 12-month high of $77.05.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. As a group, analysts predict that The Charles Schwab Co. will post 3.42 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

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.