Oliver Luxxe Assets LLC Acquires Additional Shares in Charles Schwab Co.

Oliver Luxxe Assets LLC has increased its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by an impressive 61.9% in the fourth quarter. According to its recent disclosure to the Securities & Exchange Commission, the institutional investor now owns a total of 60,655 shares of this financial services provider after purchasing an additional 23,187 shares during the quarter. The current value of Oliver Luxxe Assets LLC's investment in Charles Schwab stands at approximately $4,489,000 in its latest filing.

Other Institutional Investments

Several other institutional investors and hedge funds have also adjusted their positions in Charles Schwab. For instance, TD Asset Management Inc enhanced its stake by 3.5% in the second quarter, bringing its total shares to 536,906, valued at $39,565,000 after acquiring 18,121 more shares. Similarly, Victory Capital Management Inc. increased its holdings by 4.0%, ending up with 579,518 shares worth $42,705,000 after buying 22,208 additional shares in the last quarter. New York Life Investment Management LLC also added to its position with a 0.8% increase, holding 204,902 shares now valued at $15,099,000 after purchasing 1,707 shares during the same period.

Insider Trading Activity

Recent insider transactions at Charles Schwab reveal that Jonathan S. Beatty sold 2,300 shares at an average price of $82.01, totaling $188,623. Following this sale, Beatty holds 18,069 shares, valued at roughly $1,481,839, marking an 11.29% decrease in his position. Additionally, insider Nigel J. Murtagh sold 12,739 shares at an average price of $81.17, amounting to $1,034,025. Murtagh now owns 59,092 shares valued at approximately $4,796,498, which is a 17.73% decrease in ownership. In total, insiders have sold 118,968 shares worth around $8,842,821 in the last 90 days, and corporate insiders currently own about 6.60% of the company's stock.

Current Stock Performance

As of midday trading on Monday, Charles Schwab shares traded at $74.44, representing a nominal decrease of $0.01. The trading volume stood at 4,866,882 shares compared to an average daily volume of 5,001,241. Over the past year, the stock hit a low of $59.67 and a peak of $83.35. Charles Schwab's market capitalization is approximately $132.48 billion, with a price-to-earnings ratio of 29.08 and a price-to-earnings growth ratio of 1.76.

Recent Earnings Report

On October 15th, Charles Schwab reported its quarterly earnings, showing earnings per share (EPS) of $0.77, which exceeded analysts' expectations of $0.75. The company's revenue was recorded at $4.85 billion, surpassing estimates of $4.78 billion. With a net margin of 27.47% and a return on equity of 16.92%, the firm's revenue increased by 5.2% year-over-year, consistent with the previous year's EPS.

Dividend Announcement

Charles Schwab also announced a quarterly dividend, which was paid on November 22nd, amounting to $0.25 per share. This indicates an annualized dividend of $1.00, yielding approximately 1.34%. The ex-dividend date was November 8th, and the company's dividend payout ratio stands at 39.06%.

Analyst Ratings and Forecasts

Latest analyst comments reflect a range of price targets for Charles Schwab shares. Notably, Cowen adjusted its target price from $69.00 to $75.00, recommending a "hold" rating. Citigroup lowered its price target from $75.00 to $72.00 with a "neutral" rating. Conversely, Morgan Stanley increased its price target from $68.00 to $74.00, maintaining an "equal weight" rating. Overall, 8 analysts have given a buy rating, while another 8 recommend holding the stock, resulting in an average rating of "Hold" among market analysts with a target price of $80.50.

Company Overview

The Charles Schwab Corporation, along with its subsidiaries, operates as a holding company providing various financial services, including wealth management, banking, and advisory services both domestically and internationally. The company operates through segments such as Investor Services and Advisor Services.

investment, shares, finance