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

Oliver Luxxe Assets LLC has significantly boosted its investment in The Charles Schwab Co. (NYSE:SCHW). According to a recent filing with the Securities and Exchange Commission, the company raised its position by an impressive 61.9% during the fourth quarter. After purchasing an additional 23,187 shares, Oliver Luxxe now holds a total of 60,655 shares of the financial services provider. As of this latest disclosure, these holdings are valued at approximately $4,489,000.

Other Institutional Investor Activity

Alongside Oliver Luxxe Assets LLC, various other institutional investors and hedge funds have made transactions involving The Charles Schwab Co. For instance, TD Asset Management Inc increased its stake by 3.5% in the second quarter, owning 536,906 shares valued at $39,565,000 following the acquisition of an additional 18,121 shares. Similarly, Victory Capital Management Inc raised its holdings by 4.0%, bringing its total to 579,518 shares worth $42,705,000 after purchasing 22,208 shares in the last quarter. New York Life Investment Management LLC also raised its stake by 0.8%, owning 204,902 shares valued at $15,099,000. Additionally, Private Advisor Group LLC increased its investment by 11.2%, acquiring a total of 104,276 shares worth $7,684,000. Moreover, Candriam S.C.A. lifted its holdings by 9.0%, with a total of 98,226 shares valued at $7,238,000. In total, hedge funds and institutional investors own 84.38% of The Charles Schwab Co.'s stock.

Insider Trading Activities

In related news, several insiders at Charles Schwab have engaged in stock sales. For example, insider Jonathan S. Beatty sold 2,300 shares on November 25th at an average price of $82.01, resulting in a sale valued at $188,623. After this transaction, he retained 18,069 shares valued at approximately $1,481,838.69, marking an 11.29% decrease in his ownership. In another transaction, insider Nigel J. Murtagh sold 12,739 shares on November 22nd at an average price of $81.17, totaling around $1,034,024.63. Following this sale, he owns 59,092 shares valued at about $4,796,497.64, reflecting a 17.73% decrease in his stake. Over the last 90 days, company insiders have sold a total of 118,968 shares, equating to a value of approximately $8,842,821. Corporate insiders currently hold 6.60% of the company's stock.

Market Performance of Charles Schwab

As of the latest trading session, shares of Charles Schwab were observed to decrease slightly, down $0.01 to $74.44. The company's trading volume reached 4,866,882 shares compared to an average of 5,001,241 shares. Over the past year, Charles Schwab's stock has experienced a low of $59.67 and a high of $83.35. The company has a market capitalization of $132.48 billion, a price-to-earnings (P/E) ratio of 29.08, and reported a net margin of 27.47% with a return on equity of 16.92%. Furthermore, during its latest quarterly earnings report, Charles Schwab announced earnings per share (EPS) of $0.77, surpassing analysts' expectations of $0.75, with revenues reported at $4.85 billion.

Dividend Announcement

Recently, Charles Schwab declared a quarterly dividend, which shareholders received on November 22nd. Investors who were on record by November 8th received a dividend of $0.25, accumulating to an annualized dividend of $1.00 and a yield of 1.34%. The dividend payout ratio stands at 39.06%.

Analyst Ratings Overview

Market analysts have provided varying ratings for Charles Schwab recently. Cowen raised its price target for the stock from $69.00 to $75.00 and maintained a "hold" rating. Citigroup lowered its target from $75.00 to $72.00, also holding a "neutral" rating. StockNews.com upgraded the stock from a "sell" to a "hold" rating. Meanwhile, Morgan Stanley increased its price target from $68.00 to $74.00, stating an "equal weight" rating. There are differing recommendations with one analyst issuing a "sell" rating, eight issuing "hold" ratings, and another eight recommending a "buy." As a result, the current average rating for Charles Schwab among analysts is categorized as a "Hold," with a calculated target price of $80.50.

Charles Schwab Company Overview

The Charles Schwab Corporation operates as a savings and loan holding company, providing a range of financial services including wealth management, banking, securities brokerage, asset management, custody, and financial advisory services. The company operates through two main segments: Investor Services and Advisor Services.

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