Allstate Corp Buys Shares of 47,483 The Charles Schwab Co. (NYSE:SCHW)

Allstate Corp acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,483 shares of the financial services provider's stock, valued at approximately $3,514,000.

Several other large investors also recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Charles Schwab during the 4th quarter valued at approximately $38,000. Atala Financial Inc purchased a new position in Charles Schwab in the fourth quarter worth approximately $41,000. Knuff & Co LLC increased its stake in Charles Schwab by 1,309.3% during the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock worth $45,000 after acquiring an additional 563 shares during the last quarter. Financial Life Planners purchased a new stake in Charles Schwab in the fourth quarter valued at $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in Charles Schwab in the fourth quarter valued at $46,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 8,614 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $80.00, for a total value of $689,120.00. Following the completion of the sale, the insider now owns 49,204 shares in the company, valued at approximately $3,936,320. The trade was a 14.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the transaction, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 509,701 shares of company stock valued at $41,641,353. Insiders own 6.60% of the company's stock.

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Analyst Ratings Changes

SCHW has been the subject of a number of recent analyst reports. TD Cowen raised Charles Schwab from a "hold" rating to a "buy" rating and raised their price objective for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. JMP Securities reaffirmed a "market outperform" rating and set a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Jefferies Financial Group boosted their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Citigroup raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $102.00 in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the company an "outperform" rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $87.28.

Charles Schwab Stock Up 1.3 %

SCHW traded up $1.00 on Wednesday, reaching $78.67. The company's stock had a trading volume of 8,835,458 shares, compared to its average volume of 8,890,475. The company has a market capitalization of $142.67 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $79.52 and a two-hundred day moving average of $75.67.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion during the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. As a group, analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's payout ratio is 36.12%.

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.