Oliver Luxxe Assets LLC Increases Stake in The Charles Schwab Co.

Oliver Luxxe Assets LLC has significantly increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 61.9% during the fourth quarter, according to a recent filing with the Securities and Exchange Commission. After purchasing an additional 23,187 shares, the institutional investor now holds a total of 60,655 shares of the financial services provider. The value of Oliver Luxxe Assets LLC's holdings in Charles Schwab amounts to approximately $4,489,000 as per the latest disclosure.

Other Investors' Activity

Several other institutional investors and hedge funds have also made transactions involving shares of Charles Schwab. For instance, TD Asset Management Inc. increased its holdings by 3.5% during the second quarter, now owning 536,906 shares worth about $39,565,000 after acquiring an additional 18,121 shares. Similarly, Victory Capital Management Inc. raised its stake by 4.0%, holding 579,518 shares valued at $42,705,000 following the purchase of 22,208 shares in the last quarter.

Additionally, New York Life Investment Management LLC enhanced its position by 0.8% with a total of 204,902 shares valued at $15,099,000, after buying 1,707 shares. Private Advisor Group LLC raised its stake by 11.2%, currently holding 104,276 shares worth $7,684,000. Candriam S.C.A. also increased its holdings by 9.0%, owning 98,226 shares valued at $7,238,000 after acquiring 8,118 shares. All in all, hedge funds and institutional investors dominate 84.38% of Charles Schwab's stock ownership.

Insider Transactions

In other developments, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab on November 25th at an average price of $82.01, totaling $188,623. Following this transaction, Beatty now owns 18,069 shares valued at approximately $1,481,838.69, which marks an 11.29% decrease in his holdings. Another insider, Nigel J. Murtagh, sold 12,739 shares on November 22nd for an average price of $81.17, yielding a total sale value of $1,034,024.63. Murtagh now holds 59,092 shares worth about $4,796,497.64, reflecting a 17.73% reduction in his ownership. In the past 90 days, insiders sold 118,968 shares worth a total of around $8,842,821. Corporate insiders own roughly 6.60% of the company's stock.

Stock Performance

On Monday, shares of Charles Schwab traded down slightly by $0.01, bringing the price to $74.44. The trading volume was recorded at 4,866,882 shares, which is slightly below the average of 5,001,241 shares. Over the past year, Charles Schwab's stock has fluctuated between a low of $59.67 and a high of $83.35. The company boasts a market capitalization of $132.48 billion with a P/E ratio of 29.08. The P/E/G ratio stands at 1.76, and the beta is 0.99. Its debt-to-equity ratio is 0.59, with both quick and current ratios at 0.47. Furthermore, the stock's 50-day simple moving average is $77.40, while the 200-day simple moving average is $70.61.

Recent Earnings and Dividends

Charles Schwab announced its quarterly earnings on October 15th, posting an earnings per share (EPS) of $0.77, which exceeded the analysts' consensus estimate of $0.75. The company's revenue for the quarter was $4.85 billion, also surpassing expectations of $4.78 billion. Charles Schwab recorded a net margin of 27.47% as well as a return on equity of 16.92%, with a 5.2% year-over-year revenue increase. For the ongoing year, sell-side analysts predict an EPS of 3.12 for Charles Schwab.

The company has also declared a quarterly dividend of $0.25, which was distributed to investors on November 22nd. Previously, record holders on November 8th received this dividend, representing an annualized dividend of $1.00 and a yield of 1.34%. The dividend payout ratio stands at 39.06%.

Analysts' Price Target Adjustments

Various analysts have recently given their assessments on Charles Schwab. Cowen raised the target price from $69.00 to $75.00, maintaining a "hold" rating. Citigroup also adjusted their target down from $75.00 to $72.00 with a neutral rating. StockNews.com upgraded shares from a "sell" to a "hold" rating. Morgan Stanley increased their price target from $68.00 to $74.00, giving it an "equal weight" rating. Raymond James also adjusted their target from $76.00 to $73.00. Overall, one analyst rates the stock as a "sell," eight assign it a "hold" rating, and another eight suggest a "buy" rating, resulting in an average target price of $80.50 for the stock.

About Charles Schwab

The Charles Schwab Corporation functions as a savings and loan holding company, offering a wide range of services such as wealth management, securities brokerage, banking, asset management, custody, and financial advisory services both domestically and internationally. It operates through two principal segments: Investor Services and Advisor Services.

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