Allianz SE Buys New Position in The Charles Schwab Co. (NYSE:SCHW)

Allianz SE bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,579 shares of the financial services provider's stock, valued at approximately $634,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in Charles Schwab during the fourth quarter worth about $1,289,544,000. Primecap Management Co. CA lifted its stake in Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after purchasing an additional 3,216,000 shares during the last quarter. Franklin Resources Inc. increased its position in Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock worth $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Charles Schwab in the fourth quarter valued at $189,791,000. Finally, Veritas Asset Management LLP purchased a new stake in Charles Schwab in the 4th quarter worth about $185,649,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of NYSE SCHW traded down $0.62 during trading hours on Tuesday, reaching $77.66. 11,417,850 shares of the stock traded hands, compared to its average volume of 8,890,593. The company's 50-day simple moving average is $79.52 and its two-hundred day simple moving average is $75.67. The company has a market capitalization of $140.84 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-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.

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Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping 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 firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the firm posted $0.68 earnings per share. The business's revenue was up 19.5% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.39%. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab's dividend payout ratio is presently 36.12%.

Analyst Ratings Changes

SCHW has been the subject of a number of research reports. Barclays increased their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Redburn Partners cut their price target on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a report on Friday, January 17th. Citigroup boosted their price objective on Charles Schwab from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Piper Sandler raised their target price on Charles Schwab from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Finally, UBS Group upped their price target on Charles Schwab from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of "Hold" and a consensus target price of $86.33.

Insider Activity

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. The trade was a 35.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 509,701 shares of company stock valued at $41,641,353. 6.60% of the stock is currently owned by insiders.

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.