Oliver Luxxe Assets LLC Increases Stake in The Charles Schwab Co. by 61.9%

Oliver Luxxe Assets LLC significantly boosted its investment in The Charles Schwab Co. (NYSE:SCHW) by an impressive 61.9% during the fourth quarter. This information was revealed in the latest filing made with the Securities and Exchange Commission (SEC). After adding 23,187 shares to its portfolio, the institutional investor now holds a total of 60,655 shares in the financial services company. Based on the most recent disclosures, the value of Oliver Luxxe Assets LLC's holdings in Charles Schwab amounts to approximately $4,489,000.

Investment Activities by Other Institutions

Alongside Oliver Luxxe Assets LLC, various other institutional investors and hedge funds have been actively buying and selling shares of Charles Schwab. For instance, TD Asset Management Inc has increased its shareholding by 3.5% in the second quarter, now owning 536,906 shares valued at $39,565,000 after acquiring an additional 18,121 shares during that period. Additionally, Victory Capital Management Inc. raised its stake in the company by 4.0%, currently holding 579,518 shares worth $42,705,000 after a purchase of 22,208 shares in the last quarter. Another notable investor, New York Life Investment Management LLC, enhanced its position in Charles Schwab by 0.8%, owning 204,902 shares valued at $15,099,000 after acquiring an extra 1,707 shares. Private Advisor Group LLC also increased its investment by 11.2%, now owning 104,276 shares valued at $7,684,000 following a purchase of 10,534 shares. Lastly, Candriam S.C.A. boosted its holdings by 9.0%, currently possessing 98,226 shares valued at $7,238,000 after buying an additional 8,118 shares. In total, hedge funds and other institutional investors own 84.38% of the company's stock.

Recent Insider Transactions

In related news, insider Jonathan S. Beatty recently sold 2,300 shares of the company's stock in a transaction dated November 25. The shares were sold at an average price of $82.01, totaling $188,623. After this transaction, Beatty's ownership in the company has decreased to 18,069 shares, valued at approximately $1,481,838.69, marking an 11.29% reduction in his holdings. Similarly, insider Nigel J. Murtagh disposed of 12,739 shares on November 22 at an average price of $81.17, amounting to $1,034,024.63. His remaining shares now total 59,092, worth about $4,796,497.64, representing a decline of 17.73% in his position. Over the last 90 days, insiders have sold a total of 118,968 shares, valued at $8,842,821. Corporate insiders currently own 6.60% of the company's shares.

Current Stock Performance

As for Charles Schwab's stock performance, shares traded down slightly by $0.01 on a recent Monday, closing at $74.44. The trading volume for that day reached 4,866,882 shares, close to its average trading volume of about 5,001,241 shares. Over the past year, Charles Schwab shares have seen 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, and a P/E/G ratio of 1.76. Furthermore, the company's beta stands at 0.99, indicating a correlation with market movements. Charles Schwab shows a debt-to-equity ratio of 0.59 and has a quick and current ratio both at 0.47. The stock's 50-day moving average is $77.40, while the 200-day moving average is $70.61.

Dividend Announcements

Recently, Charles Schwab also declared a quarterly dividend, which was paid on November 22. Investors who held shares on the record date of November 8 received a dividend of $0.25 per share, translating to an annualized dividend of $1.00 and a yield of 1.34%. The ex-dividend date for this payment was November 8, and the company holds a dividend payout ratio (DPR) of 39.06%.

Analyst Ratings and Price Estimates

Analysts have recently provided insights regarding Charles Schwab. Cowen adjusted its target price for the stock from $69.00 to $75.00 and issued a 'hold' rating on October 15. Citigroup lowered its target price from $75.00 to $72.00, also placing a 'neutral' rating on the company. StockNews.com upgraded Charles Schwab's rating from 'sell' to 'hold' in mid-October. Morgan Stanley revised its price target from $68.00 to $74.00 and maintained an 'equal weight' rating. Meanwhile, Raymond James reduced its price target from $76.00 to $73.00. Currently, one research analyst rates the stock as 'sell', eight recommend 'hold', and another eight suggest 'buy'. According to data from MarketBeat, the average analyst rating is 'Hold', with an average target price of $80.50.

A Brief Overview of Charles Schwab

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

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